Index is likely to open on a positive 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 flattish note where buying was mainly seen in Realty, Automobiles and Information Technology sectors. Nifty Apr Futures closed at 22371.05 (up 12.85 points) at a premium of 3.05 pts to spot.
* FIIs were net sellers in Cash to the tune of 3044.54 Cr and were net sellers in index futures to the tune of 309.93 Cr.
* India VIX decreased by 19.72% to close at 10.20 touching an intraday high of 12.70.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 22100, 22200, 22300, 22400 strike Puts and at 22700, 22600, 22500, 22400 strike Calls indicating market is likely to remain range bound in the near term.
* Highest OI build-up is seen at 22500 strike Calls and 22000 strike Puts, to the tune of 13.42mn and 15.79mn respectively.
Outlook on Nifty:
Index is likely to open on a positive note today and is likely to remain range bound during the day.
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