Summary
* Indian markets closed on a negative note where selling was mainly seen in Metal, Banking, Finance sectors. Nifty May Future closed at 18129.70 (down 164.95 points) at a premium of 60.70 pts to spot.
* FIIs were net buyers in Cash to the tune 777.68 Cr and were net sellers in index futures to the tune of 804.32 Cr.
* India VIX increased by 4.79% to close at 12.30 touching an intraday high of 12.38.
Open Interest in Nifty Options:
* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen at 18200, 18100, 18000 strike Puts and Addition in OI were seen at 18500, 18200, 18100 strike Calls indicating that the index is likely to remain range bound in the near term.
* Highest OI build-up is seen at 18200 strike Calls and 18000 strike Puts, to the tune of 14.65mn and 11.82mn 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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