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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in FMCG, Technology, Automobile sectors. Nifty April Future closed at 14338.60 (down 65.00 points) at a discount of 2.75 pts to spot.

* FIIs were net sellers in Cash to the tune of 1360.76 Cr and were net sellers in index futures to the tune of 232.76 Cr.

* India VIX decreased by 1.45% to close at 22.69 touching an intraday high of 23.03.

Open Interest in Nifty Options:

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 14400, 14300, 14200, 14000 strike Puts and at 14500, 14600, 14700 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 7.95mn and 8.82mn respectively.

Outlook on Nifty:

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

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