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Summary

* Indian markets closed on a negative note where selling was mainly seen in Banking, FMCG, Financial Services sectors. Nifty Jul Futures closed at 24388.75 (down 74.35 points) at a discount of 24.40 pts to spot.

* FIIs were net sellers in Cash to the tune of 5130.90 Cr and were net sellers in index futures to the tune of 3588.37 Cr.

* India VIX decreased by 7.72% to close at 11.76 touching an intraday high of 14.04.

* 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 24600, 24500, 24400, 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 21.26mn and 19.33mn 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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