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Summary

* Indian markets closed on negative note where selling was mainly seen in IT, Metals, Pharmaceutical Sectors. Nifty Apr Futures closed at 22479.65 (down 150.70 points) at a premium of 80.50 pts to spot.

* FIIs were net sellers in Cash to the tune of 4358.02 Cr and were net sellers in index futures to the tune of 1148.87 Cr.

* India VIX increased by 4.83% to close at 21.43 touching an intraday high of 21.75.

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 23000, 22900, 22800, 22600 strike Calls and at 22200, 22300 22500, 22600 strike Puts indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 23000 strike Calls and 22000 strike Puts, to the tune of 11.34mn and 12.08mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

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

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