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Summary

* Indian markets closed on negative note where selling was mainly seen in Banking, Metals, Oil & Gas Sectors. Nifty Dec Futures closed at 24257.35 (down 160.30 points) at a premium of 58.50 pts to spot.

* FIIs were net sellers in Cash to the tune of 1316.81 Cr and were net sellers in index futures to the tune of 810.78 Cr.

* India VIX decreased by 0.77% to close at 14.37 touching an intraday high of 15.24

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 24000, 24100, 24200 strike Puts and at 24500, 24400, 24300, 24200 strike Calls indicating market is likely to remain under pressure in the near term.

* Highest OI build-up is seen at 24500 strike Calls and 24000 strike Puts, to the tune of 18.81mn and 19.82mn 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 under pressure during the day.

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