Index is likely to open on a gap up note today and is likely to remain range bound during the day - Nirmal Bang Ltd
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Summary
* Indian markets closed on negative note where selling was mainly seen in Banking, Automobiles, Oil & Gas sectors. Nifty Aug Futures closed at 24056.90 (down 46.05 points) at a premium of 64.35 pts to spot.
* FIIs were net sellers in Cash to the tune of 3531.24 Cr and were net sellers in index futures to the tune of 2031.16 Cr.
* India VIX decreased by 7.97% to close at 18.74 touching an intraday high of 20.37
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23700, 23800, 23900, 24000 strike Puts and at 24300, 24200, 24100, 24000 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 11.40mn and 14.98mn 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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