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 negative note where selling was mainly seen in Realty, Automobiles, FMCG Sectors. Nifty Feb Futures closed at 23442.75 (down 112.80 points) at a premium of 81.70 pts to spot.
* FIIs were net sellers in Cash to the tune of 3958.37 Cr and were net sellers in index futures to the tune of 1667.29 Cr.
* India VIX increased by 1.82% to close at 14.35 touching an intraday high of 15.11.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23700, 23600, 23500, 23400 strike Calls and at 23000, 23100, 23200, 23300 strike Puts indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 24000 strike Calls and 23000 strike Puts, to the tune of 27.40mn and 20.05mn 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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