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Summary

* Indian markets closed on negative note where selling was mainly seen in Automobiles, Metals, Oil & Gas Sectors. Nifty Mar Futures closed at 22515.65 (down 134.30 points) at a premium of 55.35 pts to spot.

* FIIs were net sellers in Cash to the tune of 485.41 Cr and were net sellers in index futures to the tune of 501.72 Cr.

* India VIX increased by 3.82% to close at 13.99 touching an intraday high of 14.21

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 22700, 22600, 22500 strike Calls and at 22100, 22200, 22400 strike Puts indicating market is likely to remain under pressure in the near term.

* Highest OI build-up is seen at 23000 strike Calls and 22000 strike Puts, to the tune of 21.91mn and 21.32mn respectively.

Open Interest in Nifty Options:

Outlook on Nifty:

Index is likely to open on a gap down note today and is likely to remain cautious during the day.

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