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 positive note where buying was mainly seen in IT, Banking & Automobiles sectors. Nifty Apr Futures closed at 22612.25 (up 69.65 points) at a premium of 97.60 pts to spot.
* FIIs were net sellers in Cash to the tune of 1136.47 Cr and were net sellers in index futures to the tune of 753.89 Cr.
* India VIX decreased by 1.34% to close at 11.22 touching an intraday high of 11.84.
* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 22400, 22300, 22200 strike Puts and at 22500, 22600, 22700, 22800 strike Calls indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 23000 strike Calls and 22000 strike Puts, to the tune of 10.26mn and 10.06mn respectively.
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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