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Summary

* Indian markets closed on flat note where buying was mainly seen in IT, Pharmaceutical, FMCG Sectors. Nifty Jan Futures closed at 23805.85 (down 10.85 points) at a premium of 161.05 pts to spot.

* FIIs were net sellers in Cash to the tune of 4645.22 Cr and were net sellers in index futures to the tune of 1576.73 Cr.

* India VIX increased by 3.39% to close at 14.45 touching an intraday high of 14.64.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23800, 23700, 23600 strike Calls and at 23400, 23500, 23600, 23700 strike Puts indicating market is likely to remain negative in the near term.

* Highest OI build-up is seen at 24000 strike Calls and 23000 strike Puts, to the tune of 16.83mn and 16.71mn respectively.

Outlook on Nifty:

Index is likely to open on a negative note today and is likely to remain negative during the day

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