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Summary

* Indian markets closed on negative note where selling was mainly seen in Automobiles, FMCG, Pharmaceuticals Sectors. Nifty Feb Futures closed at 23153.15 (down 306.00 points) at a premium of 81.35 pts to spot.

* FIIs were net sellers in Cash to the tune of 4486.41 Cr and were net sellers in index futures to the tune of 1684.51 Cr.

* India VIX increased by 2.94% to close at 14.87 touching an intraday high of 15.43.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23400, 23300, 23200, 23100 strike Calls and at 22700, 22800, 23000 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 17.10mn and 16.84mn 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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