Index is likely to open on a positive note today and is likely to remain positive during the day - Nirmal Bang
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Summary
Indian markets closed on a positive note where buying was mainly seen in Banking, Automobile, Technology sectors. Nifty Nov Future closed at 19723.3.0 (up 226.15 points) at a premium of 47.85 pts to spot
FIIs were net buyers in Cash to the tune of 550.19 Cr and were net buyers in index futures to the tune of 347.25 Cr.
India VIX decreased by 0.46% to close at 11.14 touching an intraday high of 11.42.
Open Interest in Nifty Options:
The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 19700, 19600, 19500, 19400 strike Puts and at 19700, 19800, 19900, 20000 strike Calls indicating market is likely to remain positive in the near term.
Highest OI build-up is seen at 20000 strike Calls and 19600 strike Puts, to the tune of 18.43mn and 18.04mn respectively.
Outlook on Nifty:
Index is likely to open on a positive note today and is likely to remain positive during the day
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