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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Chemicals, Realty, IT sectors. Nifty May Future closed at 16643.4 (up 316.55 points) at a discount of 17.95 pts to spot.

* FIIs were net buyers in Cash to the tune of 502 Cr and were net buyers in index futures to the tune of 1806.21 Cr.

* India VIX decreased by 6.98% to close at 19.98 touching an intraday high of 21.48.

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 16700, 16600, 16500 strike Puts and at 16700, 16800, 17000 strike Calls indicating bullish undertone in the market during the day.

* Highest OI build-up is seen at 17000 strike Calls and 16000 strike Puts, to the tune of 10.98mn and 9.80mn 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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