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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Banking, Auto, Chemicals sectors. Nifty March Future closed at 16885.4 (up 237.65 points) at a premium of 14.10 pts to spot.

* FIIs were net sellers in Cash to the tune of 177 Cr and were net buyers in index futures to the tune of 568.94 Cr.

* India VIX increased by 1.31% to close at 25.68 touching an intraday high of 26.21

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 16800, 16700, 16600 strike Puts while liquidation was seen at 16700, 16600, 16500 strike Calls indicating market is likely to remain positive during the day.

* Highest OI build-up is seen at 17000 strike Calls and 16000 strike Puts, to the tune of 6.98mn and 11.58mn respectively.

Outlook on Nifty:

* Index is likely to open on a flattish note today and is likely to remain positive during the day.

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