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Summary

* Indian markets closed on negative note where selling was mainly seen in Banking, Pharmaceutical, Oil & Gas Sectors. Nifty Jan Futures closed at 23500.65 (down 147.45 points) at a premium of 69.15 pts to spot.

* FIIs were net sellers in Cash to the tune of 2254.68 Cr and were net sellers in index futures to the tune of 1020.29 Cr.

* India VIX increased by 1.75% to close at 14.92 touching an intraday high of 15.52.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23800, 23700, 23600, 23500 strike Calls and at 23200, 23300, 23400, 23500 strike Puts indicating market is likely to remain under pressure in the near term.

* Highest OI build-up is seen at 24000 strike Calls and 23000 strike Puts, to the tune of 15.87mn and 13.70mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

Index is likely to open on a gap down note today and is likely to remain under pressure during the day.

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