Index is likely to open on a positive note today and is likely to range bound during the day - Nirmal Bang Ltd
Summary
* Indian markets closed on negative note where selling was mainly seen in IT, Oil & Gas, Pharmaceutical Sectors. Nifty Jan Futures closed at 22846.45 (down 267.45 points) at a premium of 17.30 pts to spot.
* FIIs were net sellers in Cash to the tune of 5015.46 Cr and were net sellers in index futures to the tune of 34.31 Cr.
* India VIX increased by 8.28% to close at 18.13 touching an intraday high of 18.52.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23000, 22900, 22800 strike Calls and at 22500, 22600, 22700 strike Puts indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 23000 strike Calls and 23000 strike Puts, to the tune of 12.20mn and 12.75mn respectively.
Open Interest in Nifty Options:
Outlook on Nifty:
Index is likely to open on a positive note today and is likely to range bound during the day.
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