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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Automobile, Pharma sectors. Nifty May Future closed at 14549.30 (down 136.50 points) at a premium of 52.80 pts to spot.

* FIIs were net sellers in Cash to the tune of 1772.37 Cr and were net sellers in index futures to the tune of 287.60 Cr.

* India VIX decreased by 2.88% to close at 23.01 touching an intraday high of 23.69.

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 14500, 14100, 14000 strike Puts and at 14500, 14600, 14700, 15000 strike Calls 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 10.05mn and 9.36mn respectively.

Outlook on Nifty:

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

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