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Summary

* Indian markets closed on negative note where selling was mainly seen in Automobiles, Realty, Banking Sectors. Nifty Jan Futures closed at 23816.70 (down 175.95 points) at a premium of 171.80 pts to spot.

* FIIs were net sellers in Cash to the tune of 1893.16 Cr and were net sellers in index futures to the tune of 1427.02 Cr.

* India VIX increased by 5.55% to close at 13.97 touching an intraday high of 14.37

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23800, 23700, 23600 strike Calls and at 23400, 23500, 23600 strike Puts indicating market is likely to remain negative in the near term.

* Highest OI build-up is seen at 24000 strike Calls and 23000 strike Puts, to the tune of 15.71mn and 14.78mn respectively.

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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