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 flat note where buying was mainly seen in Automobiles, Metals, Pharmaceutical sectors. Nifty Jul Futures closed at 24509.10 (down 20.00 points) at a discount of 0.15 pts to spot.
* FIIs were net buyers in Cash to the tune of 3444.06 Cr and were net sellers in index futures to the tune of 1274.11 Cr.
* India VIX increased by 4.13% to close at 15.44 touching an intraday high of 15.63
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24200, 24300, 24400, 24500 strike Puts and at 24800, 24700, 24600, 24500 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 10.69mn and 12.19mn 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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