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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 14889.40 (down 35.00 points) at a premium of 54.55 pts to spot.

* FIIs were net sellers in Cash to the tune of 653.51 Cr and were net sellers in index futures to the tune of 639.48 Cr.

* India VIX decreased by 2.59% to close at 19.79 touching an intraday high of 20.97.

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 15000, 14900 strike Calls and at 14800, 14700, 14500 strike Puts 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 6.43mn and 7.69mn respectively.

Outlook on Nifty:

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

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