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Summary

* Indian markets closed on a flat note where selling was mainly seen in Metals, Pharmaceuticals, Automobiles Sectors. Nifty May Futures closed at 24425.30(down 27.50 points) at a premium of 89.35 pts to spot.

* FIIs were net buyers in Cash to the tune of 2385.61 Cr and were net buyers in index futures to the tune of 910.68 Cr.

* India VIX increased by 2.53% to close at 17.37 touching an intraday high of 17.59

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24600, 24500, 24400, 24300 strike Calls and at 24200, 24300, 24400, 24500 strike Puts indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 24500 strike Calls and 24000 strike Puts, to the tune of 23.07mn and 22.93mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

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

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