Index is likely to open on a positive note today and is likely to remain rangebound during the day - Nirmal Bang Ltd
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Summary
* Indian markets closed on a flat note where buying was mainly seen in Automobile, Finance, Metals sectors. Nifty Oct Future closed at 19740.40 (down 1.65 points) at a premium of 8.65 pts to spot.
* FIIs were net sellers in Cash to the tune of 593.66 Cr and were net buyers in index futures to the tune of 27.74 Cr.
* India VIX increased by 5.03% to close at 11.07 touching an intraday high of 11.15
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 19800, 19700, 19600 strike Puts and at 19700, 19800, 19900, 20000 strike Calls indicating that the market is likely to remain range-bound in the near term.
* Highest OI build-up is seen at 20000 strike Calls and 19000 strike Puts, to the tune of 14.41mn and 17.56mn respectively.
Outlook on Nifty:
Index is likely to open on a positive note today and is likely to remain rangebound during the day.
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