Index is likely to open on a gap down note today and is likely to remain negative during the day - Nirmal Bang Ltd
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Summary
* Indian markets closed on negative note where selling was mainly seen in Oil & Gas, Automobiles, IT sectors. Nifty Aug Futures closed at 24711.55 (down 320.70 points) at a discount of 6.15 pts to spot.
* FIIs were net sellers in Cash to the tune of 3310.00 Cr and were net sellers in index futures to the tune of 1394.66 Cr.
* India VIX increased by 11.40% to close at 14.32 touching an intraday high of 14.51.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24400, 24600, 24700 strike Puts and at 25000, 24900, 24800, 24700 strike Calls indicating market is likely to remain negative in the near term.
* Highest OI build-up is seen at 25000 strike Calls and 24500 strike Puts, to the tune of 13.42mn and 9.00mn 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 negative during the day
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