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Summary

* Indian markets closed on a negative note where selling was mainly seen in IT, Automobiles, Oil & Gas Sectors. Nifty Feb Futures closed at 22070.15 (down 147.05 points) at a premium of 14.60 pts to spot.

* FIIs were net buyers in Cash to the tune of 284.66 Cr and were net buyers in index futures to the tune of 627.43 Cr.

* India VIX decreased by 0.90% to close at 15.93 touching an intraday high of 16.31.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 21700, 21800, 21900 strike Puts and at 22200, 22100, 22000, 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 17.59mn and 15.22mn 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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