Index is likely to open on a flattish 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 Pharmaceuticals, Banking, Information Technology sectors. Nifty Aug Futures closed at 24711.25 (up 115.50 points) at a premium of 12.40 pts to spot.
* FIIs were net sellers in Cash to the tune of 1457.96 Cr and were net buyers in index futures to the tune of 1974.15 Cr.
* India VIX decreased by 3.45% to close at 13.82 touching an intraday high of 14.32.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24500, 24600, 24700 strike Puts and at 25000, 24900, 24700 strike Calls indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 25000 strike Calls and 24000 strike Puts, to the tune of 16.92mn and 15.44mn respectively.
Outlook on Nifty:
Index is likely to open on a flattish note today and is likely to remain range bound during the day.
Open Interest in Nifty Options:
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