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 Banking, Metals, Oil & Gas sectors. Nifty Jul Futures closed at 24463.10 (down 46.00 points) at a discount of 15.95 pts to spot.
* FIIs were net sellers in Cash to the tune of 2975.31 Cr and were net sellers in index futures to the tune of 3659.88 Cr.
* India VIX decreased by 17.42% to close at 12.75 touching an intraday high of 16.07.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24200, 24300, 24400 strike Puts and at 24700, 24600, 24500, strike Calls indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 25000 strike Calls and 24000 strike Puts, to the tune of 16.26mn and 14.99mn 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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Market is expected to open on a negative note and likely to witness range bound move during ...
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