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Summary

* Indian markets closed on a negative note where selling was mainly seen in IT, Metals & Pharmaceutical Sectors. Nifty Aug Futures closed at 24871.60 (up 2.30 points) at a premium of 103.25 pts to spot.

* FIIs were net sellers in Cash to the tune of 5588.91 Cr and were net sellers in index futures to the tune of 1235.76 Cr.

* India VIX increased by 3.01% to close at 11.54 touching an intraday high of 12.12.

* The above second chart shows previous trading day’s change in Nifty options where Liquidations in OI were seen in 25000, 24900, 24800, 24700 strike Calls and at 24500, 24600, 24700, 24800 strike Puts indicating market is likely to remain under pressure in the near term.

* Highest OI build-up is seen at 25000 strike Calls and 25000 strike Puts, to the tune of 12.44mn and 10.68mn 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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