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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Finance, IT, Automobile sectors. Nifty May Future closed at 15810.7 (down 69367.20 points) at a premium of 0.50 pts to spot.

* FIIs were net sellers in Cash to the tune of 5256 Cr and were net sellers in index futures to the tune of 1360.97 Cr.

* India VIX increased by 6.41% to close at 24.27 touching an intraday high of 25.32.

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 16000, 15900, 15800 strike Calls and at 15800, 15700 strike Puts indicating market is likely to remain range bound in coming trading sessions.

* Highest OI build-up is seen at 16000 strike Calls and 15500 strike Puts, to the tune of 12.57mn and 11.65mn respectively.

Outlook on Nifty:

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

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