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 Automobiles, FMCG, Pharmaceutical sectors. Nifty Jul Futures closed at 24485.65 (up 110.05 points) at a premium of 52.45 pts to spot.
* FIIs were net buyers in Cash to the tune of 314.46 Cr and were net buyers in index futures to the tune of 498.31 Cr.
* India VIX increased by 3.38% to close at 14.28 touching an intraday high of 14.40.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24600, 24500, 24400 strike Puts and at 24400, 24500, 24600 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 15.55mn and 15.92mn 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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