Index is likely to open on a gap down note today and is likely to remain cautious during the day - Nirmal Bang Ltd
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Summary
* Indian markets closed on positive note where buying was mainly seen in Metals, Pharmaceuticals, Oil & Gas sectors. Nifty Aug Futures closed at 24366.45 (up 309.55 points) at a premium of 68.95 pts to spot.
* FIIs were net sellers in Cash to the tune of 3314.76 Cr and were net sellers in index futures to the tune of 1032.45 Cr.
* India VIX decreased by 13.72% to close at 16.17 touching an intraday high of 18.74.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24000, 24100, 24200, 24300 strike Puts and at 24500, 24400, 24300 strike Calls indicating market is likely to remain cautious in the near term.
* Highest OI build-up is seen at 24500 strike Calls and 24000 strike Puts, to the tune of 13.05mn and 17.64mn respectively.
Open Interest in Nifty Options:
Outlook on Nifty:
Index is likely to open on a gap down note today and is likely to remain cautious during the day.
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FIIs Net Sellers : 2502.58 Cr in Cash, 1885.89 Cr in Index Futures - Nirmal Bang Ltd
