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Market Summary:

* Indian markets closed on a flat note where buying was mainly seen in FMCG, Metals, Pharma sectors. Nifty May Future closed at 14685.80 (down 5.00 points) at a premium of 51.65 pts to spot

* FIIs were net sellers in Cash to the tune of 2289.46 Cr and were net sellers in index futures to the tune of 1915.93 Cr

* India VIX increased by 2.88% to close at 23.69 touching an intraday high of 24.54.

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, 14200 strike Puts and at 14500, 14600, 14700, 15000 strike Calls indicating market is likely to remain range-bound in the near term.

* Highest OI build-up is seen at 15000 strike Call and 14000 strike Put, to the tune of 7.79mn and 8.15mn respectively.

Outlook on Nifty:

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

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