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Summary

* Indian markets closed on a negative note where selling was mainly seen in Finance, Metals, Pharma sectors. Nifty Sep Future closed at 19708.25 (down 70.45 points) at a premium of 11.45 pts to spot.

* FIIs were net sellers in Cash to the tune of 1326.74 Cr and were net sellers in index futures to the tune of 1123.59 Cr.

* India VIX decreased by 1.45% to close at 10.66 touching an intraday high of 11.07.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen at 19700, 19600, 19500 strike Puts and at 19700, 19800, 19900, 20000 strike Calls indicating that the market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 20000 strike Calls and 19000 strike Puts, to the tune of 13.41mn and 14.88mn respectively. 

Outlook on Nifty:

Index is likely to open on a flat note today and is likely to remain range-bound during the day.

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