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Summary

* Indian markets closed on a positive note where buying was mainly seen in Banking, IT, Pharmaceutical sectors. Nifty Mar Futures closed at 22593.05 (up 159.80 points) at a premium of 119 pts to spot.

* FIIs were net buyers in Cash to the tune of 2766.75 Cr and were net buyers in index futures to the tune of 1396.43 Cr.

* India VIX decreased by 0.59% to close at 14.30 touching an intraday high of 14.71.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 22500, 22400, 22300 strike Puts and at 22600, 22700, 22800 strike Calls 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 16.85mn and 18.99mn respectively.

Outlook on Nifty:

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

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