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Summary

*Indian markets closed on positive note where buying was mainly seen in Realty, Pharmaceuticals, Oil & Gas Sectors. Nifty Feb Futures closed at 23418.30 (up 270.05 points) at a premium of 168.80 pts to spot.

*FIIs were net sellers in Cash to the tune of 4582.95 Cr and were net sellers in index futures to the tune of 4148.12 Cr.

*India VIX decreased by 6.70% to close at 17.39 touching an intraday high of 18.99

*The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 23500, 23400, 23300 strike Calls and at 22900, 2300, 23100, 23200 strike Puts indicating market is likely to remain range bound in the near term.

*Highest OI build-up is seen at 23500 strike Calls and 23000 strike Puts, to the tune of 5.48mn and 10.65mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

Index is likely to open on a flat note today and is likely to remain range bound during the day

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