Index is likely to open on a negative note today and is likely to remain rangebound 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, Automobile, Metals sectors. Nifty Oct Future closed at 19571.50 (down 137.50 points) at a premium of 42.75 pts to spot.
* FIIs were net sellers in Cash to the tune of 2034.14 Cr and were net sellers in index futures to the tune of 1839.33 Cr.
* India VIX increased by 3.16% to close at 11.79 touching an intraday high of 12.41.
Open Interest in Nifty Options:
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen at 19500, 19400, 19300 strike Puts and at 19500, 19600, 19700 strike Calls indicating that the market is likely to remain range-bound in the near term.
* Highest OI build-up is seen at 20000 strike Calls and 19500 strike Puts, to the tune of 13.80mn and 15.43mn respectively.
Outlook on Nifty:
Index is likely to open on a negative note today and is likely to remain rangebound during the day
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