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Summary

* Indian markets closed on positive note where buying was mainly seen in Banking, Metals, Oil & Gas Sectors. Nifty Jan Futures closed at 23400.20 (up 133.00 points) at a premium of 55.45 pts to spot.

* FIIs were net sellers in Cash to the tune of 4336.54 Cr and were net sellers in index futures to the tune of 297.72 Cr.

* India VIX increased by 4.23% to close at 16.42 touching an intraday high of 17.02.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23700, 23600, 23500, 23400 strike Calls and at 23100, 23200, 23300, 23400 strike Puts 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 18.46mn and 16.82mn respectively

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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