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Summary

* Indian markets closed on a negative note where selling was mainly seen in IT, Pharmaceuticals, Oil & Gas Sectors. Nifty Nov Futures closed at 23513.95 (down 87.75 points) at a premium of 60.15 pts to spot.

* FIIs were net sellers in Cash to the tune of 1403.40 Cr and were net sellers in index futures to the tune of 352.33 Cr.

* India VIX increased by 2.65% to close at 15.17 touching an intraday high of 16.58.

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

* Highest OI build-up is seen at 24000 strike Calls and 23000 strike Puts, to the tune of 15.64mn and 17.17mn respectively. 

Open Interest in Nifty Options:

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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