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Summary

* Indian markets closed on a positive note where buying was mainly seen in Financial services, Pharmaceuticals, Metal Sectors. Nifty Feb Futures closed at 21957.40 (up 36.05 points) at a discount of 25.40 pts to spot.

* FIIs were net buyers in Cash to the tune of 3568.11 Cr and were net sellers in index futures to the tune of 896.04 Cr.

* India VIX decreased by 4.63% to close at 15.57 touching an intraday high of 16.55.

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 22200, 22100, 22000 strike Puts and at 22000, 22100, 22200 strike Calls indicating market is likely to remain bound in the near term.

* Highest OI build-up is seen at 22200 strike Calls and 22000 strike Puts, to the tune of 3.17mn and 5.05mn respectively.

Outlook on Nifty:

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

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