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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Automobile, Finance sectors. Nifty April Future closed at 17519.20 (down 57.55 points) at a premium of 43.60 pts to spot.

* FIIs were net sellers in Cash to the tune of 2061.04 Cr and were net sellers in index futures to the tune of 2005.03 Cr.

* India VIX decreased by 2.05% to close at 17.79 touching an intraday high of 18.40.

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 17400, 17300, 17200 strike Puts and at 17500, 17600, 17700 strike Calls indicating market is likely to remain under selling pressure in the near term.

* Highest OI build-up is seen at 18000 strike Calls and 17000 strike Puts, to the tune of 13.97mn and 9.16mn respectively.

Outlook on Nifty:

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

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