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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Finance, Automobile sectors. Nifty May Future closed at 14690.80 (down 210.35 points) at a premium of 59.70 pts to spot.

* FIIs were net sellers in Cash to the tune of 3465.07 Cr and were net sellers in index futures to the tune of 2963.21 Cr.

* India VIX decreased by 1.19% to close at 23.03 touching an intraday high of 23.77.

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 14800, 14700, 14600, 14000 strike Puts and at 14600, 14700, 14800, 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 6.11mn and 7.15mn 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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