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 negative note where selling was mainly seen in Automobiles, Banking, lT sectors. Nifty Jul Futures closed at 24355.05 (down 130.60 points) at a premium of 30.60 pts to spot.
* FIIs were net buyers in Cash to the tune of 583.96 Cr and were net sellers in index futures to the tune of 3434.99 Cr.
* India VIX increased by 0.66% to close at 14.43 touching an intraday high of 14.92.
* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24000, 24100, 24200 strike Puts and at 24500, 24400, 24300, 24200 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 15.98mn and 18.16mn respectively.
Open Interest in Nifty Options:
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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