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Summary

* Indian markets closed on a negative note where selling was mainly seen in Automobiles, IT, Pharmaceuticals. Nifty Sept Futures closed at 24689.90 (down 277.80 points) at a premium of 35.20 pts to spot.

* FIIs were net sellers in Cash to the tune of 5687.58 Cr and were net sellers in index futures to the tune of 3589.38 Cr.

* India VIX increased by 5.95% to close at 11.43 touching an intraday high of 11.68.

* The above second chart shows previous trading day’s change in Nifty options where Additions in OI were seen in 25000,24900,24800,24700 strike Calls Liquidations and at 24300, 24400, 24500 strike Puts indicating market is likely to remain positive in the near term.

* Highest OI build-up is seen at 25000 strike Calls and 24000 strike Puts, to the tune of 26.93mn and 18.60mn 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 positive during the day.

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