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Summary

* Indian markets closed on negative note where selling was mainly seen in Metals, IT, Oil & Gas sectors. Nifty Aug Futures closed at 24136.55 (down 229.90 points) at a premium of 19.55 pts to spot.

* FIIs were net sellers in Cash to the tune of 2626.73 Cr and were net sellers in index futures to the tune of 2943.20 Cr.

* India VIX increased by 2.67% to close at 16.60 touching an intraday high of 17.23

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 24000, 24100, 24200, 24300 strike Puts and at 24500, 24400, 24300 strike Calls indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 24500 strike Calls and 24000 strike Puts, to the tune of 7.63mn and 10.25mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

Index is likely to open on a gap up note today and is likely to remain range bound during the day.

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