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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Finance, Technology sectors. Nifty April Future closed at 17053.80 (down 150.20 points) at a premium of 15.40 pts to spot.

* FIIs were net sellers in Cash to the tune of 4064.54 Cr and were net sellers in index futures to the tune of 3386.90 Cr.

* India VIX increased by 7.38% to close at 20.61 touching an intraday high of 21.37

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 17000, 17100, 17200 strike Calls and at 17000, 16900, 16500 strike Puts indicating market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 17500 strike Calls and 17000 strike Puts, to the tune of 9.11mn and 10.37mn respectively.

Outlook on Nifty:

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

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