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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Banking, Finance, Automobile sectors. Nifty April Future closed at 14374.10 (down 271.55 points) at a premium of 14.70 pts to spot.

* FIIs were net sellers in Cash to the tune of 1633.70 Cr and were net sellers in index futures to the tune of 310.49 Cr

* India VIX increased by 10.20% to close at 22.49 touching an intraday high of 23.11.

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 14300, 14200, 14000 strike Puts and at 14200, 14300, 14400, 14500 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 8.60mn and 9.68mn respectively.

Outlook on Nifty:

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

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