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Market Summary:

* Indian markets closed on a positive note where buying was mainly seen in Chemicals, Textile, IT sectors. Nifty May Future closed at 16326.9 (up 167.85 points) at a discount of 25.55 pts to spot.

* FIIs were net sellers in Cash to the tune of 1943 Cr and were net buyers in index futures to the tune of 873.17 Cr.

* India VIX decreased by 5.44% to close at 21.48 touching an intraday high of 22.72.

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 and at 16300, 16400, 16600 strike Calls indicating bullish undertone in the market during the day.

* Highest OI build-up is seen at 16500 strike Calls and 16000 strike Puts, to the tune of 5.37mn and 8.54mn respectively.

Outlook on Nifty:

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

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