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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Banking, Automobile, Finance sectors. Nifty March Future closed at 16365.7 (up 354.80 points) at a premium of 20.35 pts to spot.

* FIIs were net sellers in Cash to the tune of 4819 Cr and were net buyers in index futures to the tune of 677.85 Cr.

* India VIX decreased by 3.91% to close at 27.47 touching an intraday high of 28.59.

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 16400, 16300, 16200 strike Puts while liquidation was seen at 16200, 16100, 16000 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 13.67mn and 10.38mn respectively.

Outlook on Nifty:

* Index is likely to open on a gap up today and is likely to remain positive during the day

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