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Summary

* Indian markets closed on a negative note where selling was mainly seen in Automobiles, Metals, Oil & Gas sectors. Nifty Jul Futures closed at 24529.10 (down 279.95 points) at a discount of 1.80 pts to spot.

* FIIs were net buyers in Cash to the tune of 1506.12 Cr and were net sellers in index futures to the tune of 2029.13 Cr.

* India VIX increased by 2.17% to close at 14.83 touching an intraday high of 14.97

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24100, 24200, 24500 strike Puts and at 25700, 24600, 24500 strike Calls indicating market is likely to remain negative in the near term.

* Highest OI build-up is seen at 25000 strike Calls and 24000 strike Puts, to the tune of 10.54mn and 10.70mn respectively.

Outlook on Nifty:

Index is likely to open on a gap down note today and is likely to remain negative during the day.

Open Interest in Nifty Options:

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