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Summary

* Indian markets closed on negative note where selling was mainly seen in Automobiles, Metals, Pharmaceuticals Sectors. Nifty Feb Futures closed at 23459.15 (down 155.80 points) at a premium of 77.55 pts to spot.

* FIIs were net sellers in Cash to the tune of 2463.72 Cr and were net sellers in index futures to the tune of 1814.65 Cr.

* India VIX increased by 5.55% to close at 14.45 touching an intraday high of 14.72.

* 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 23000, 23100, 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 22.39mn and 16.35mn 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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