Index is likely to open on a negative note today and is likely to remain range bound during the day - Nirmal Bang Ltd
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Summary
* Indian markets closed on a negative note where selling was mainly seen in Automobiles, Pharmaceuticals, Metal sectors. Nifty Oct Futures closed at 25118.35 (down 103.15 points) at a premium of 61.00 pts to spot.
* FIIs were net sellers in Cash to the tune of 1748.71 Cr and were net sellers in index futures to the tune of 411.87 Cr.
* India VIX increased by 0.05% to close at 13.00 touching an intraday high of 13.36
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 25300, 25200, 25100, 25000 strike Calls and at 24600, 24700, 24800 strike Puts indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 25500 strike Calls and 25000 strike Puts, to the tune of 13.16mn and 15.86mn respectively.
Open Interest in Nifty Options
Outlook on Nifty:
Index is likely to open on a negative note today and is likely to remain range bound during the day.
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