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 negative note where selling was mainly seen in IT, Oil & Gas, Metals sectors. Nifty Oct Futures closed at 24788.80 (down 160.35 points) at a premium of 7.70 pts to spot.
* FIIs were net sellers in Cash to the tune of 2261.83 Cr and were net sellers in index futures to the tune of 333.13 Cr.
* India VIX increased by 6.42% to close at 13.76 touching an intraday high of 14.20.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 25000, 24900, 24800 strike Calls and liquidation at 24600, 24700, 24800 strike Puts indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 25000 strike Calls and 25000 strike Puts, to the tune of 16.08mn and 10.82mn respectively.
Open Interest in Nifty Options:
Outlook on Nifty:
Index is likely to open on a flattish note today and is likely to remain range bound during the day.
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