Index is likely to open on a gap up note today and is likely to remain range bound during the day - Nirmal Bang Ltd
Summary
* Indian markets closed on a negative note where selling was mainly seen in Automobiles, Metals, Oil & Gas sectors. Nifty Sept Futures closed at 24938.45 (down 144.55 points) at a premium of 20.00 pts to spot.
* FIIs were net buyers in Cash to the tune of 1755.00 Cr and were net sellers in index futures to the tune of 476.65 Cr.
* India VIX increased by 2.00% to close at 13.63 touching an intraday high of 13.77
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24500, 24700, 24800, 24900 strike Puts and at 25200, 25100, 25000, 24900 strike Calls indicating market is likely to remain range bound the near term.
* Highest OI build-up is seen at 25000 strike Calls and 25000 strike Puts, to the tune of 22.22mn and 19.78mn respectively.
Outlook on Nifty:
Index is likely to open on a gap up note today and is likely to remain range bound during the day
Open Interest in Nifty Options:
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Tag News
FIIs Net Sellers in Cash by 3024.31 Cr, Index Futures by 734.24 Cr - Nirmal Bang Ltd
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Market Wrap and Market Macros by Shrikant Chouhan, Head Equity Research, Kotak Securities