Index is likely to open on a gap down note today and is likely to remain range bound during the day - Nirmal Bang Ltd
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Summary
* Indian markets closed on a negative note where selling was mainly seen in Banking, IT, Pharmaceutical Sectors. Nifty Oct Futures closed at 24371.05 (down 106.65 points) at a premium of 30.20 pts to spot.
* FIIs were net sellers in Cash to the tune of 4613.65 Cr and were net sellers in index futures to the tune of 1465.16 Cr.
* India VIX increased by 6.54% to close at 15.51 touching an intraday high of 15.70
* 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 range bound in the near term.
* Highest OI build-up is seen at 25000 strike Calls and 24000 strike Puts, to the tune of 17.86mn and 18.32mn 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 range bound during the day.
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