Index is likely to open on a flat note today and is likely to remain range-bound during the day - Nirmal Bang Ltd
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Summary
* Indian markets closed on a positive note where buying was mainly seen in Banking, Finance, Automobile sectors. Nifty Oct Future closed at 19811.10 (up 70.70 points) at a discount of 0.40 pts to spot.
* FIIs were net buyers in Cash to the tune of 263.68 Cr and were net buyers in index futures to the tune of 464.51 Cr.
* India VIX decreased by 3.38% to close at 10.70 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 Addition in OI were seen in 19900, 19800, 19600, 19500 strike Puts and at 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
16.90mn and 17.00mn 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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