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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in IT, Cement, Power sectors. Nifty April Future closed at 14296.2 (down 77.95 points) at a discount of 0.20 pts to spot.

* FIIs were net sellers in Cash to the tune of 1082 Cr and were net buyers in index futures to the tune of 307.22 Cr.

* India VIX increased by 10.20% to close at 22.49 touching an intraday high of 23.11.

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 14600, 14500, 14400, 14300 strike Calls while liquidation was seen at 14200, 14500, 14600 strike Puts indicating market is likely to remain under selling pressure in the near term.

* Highest OI build-up is seen at 15000 strike Call and 14000 strike Put, to the tune of 8.89mn and 9.79mn respectively.

Outlook on Nifty:

* Index is likely to open on a gap down note today and is likely to remain under pressure during the day.

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