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 Oil & Gas, FMCG, Consumer durables sectors. Nifty Jul Futures closed at 24382.65 (up 27.60 points) at a premium of 66.70 pts to spot.
* FIIs were net sellers in Cash to the tune of 1137.01 Cr and were net sellers in index futures to the tune of 2179.30 Cr.
* India VIX decreased by 3.03% to close at 14.00 touching an intraday high of 14.43.
* The above second chart shows previous trading day’s change in Nifty options where Liquidation 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 10.74mn and 11.84mn 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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FIIs Net Sellers : 2502.58 Cr in Cash, 1885.89 Cr in Index Futures - Nirmal Bang Ltd
