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 Oil & Gas, Automobiles, Banking sectors. Nifty Aug Futures closed at 24102.95 (down 608.60 points) at a premium of 47.35 pts to spot.
* FIIs were net sellers in Cash to the tune of 10073.75 Cr and were net sellers in index futures to the tune of 2433.94 Cr.
* India VIX increased by 42.23% to close at 20.37 touching an intraday high of 23.15.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23700, 23800, 23900 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 8.59mn and 13.88mn 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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