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 flattish note where buying was mainly seen in IT, Automobiles and Pharmaceutical sectors. Nifty Jul Futures closed at 24359.45 (up 9.05 points) at a premium of 57.30 pts to spot.
* FIIs were net buyers in Cash to the tune of 2575.85 Cr and were net buyers in index futures to the tune of 898.20 Cr.
* India VIX decreased by 2.65% to close at 12.86 touching an intraday high of 13.21.
* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 24300, 24200, 24100 strike Puts and at 24500, 24400, 24300 strike Calls indicating market is likely to remain range bound in near term.
* Highest OI build-up is seen at 25000 strike Calls and 24000 strike Puts, to the tune of 11.41mn and 11.28mn 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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