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Market Summary:

* Indian markets closed on a negative note where selling was mainly seen in Metals, Banking, Automobile sectors. Nifty May Future closed at 14710 (down 168.20 points) at a premium of 13.55 pts to spot.

* FIIs were net sellers in Cash to the tune of 1261 Cr and were net sellers in index futures to the tune of 555.71 Cr.

* India VIX increased by 1.26% to close at 20.08 touching an intraday high of 20.91.

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 14900, 14800, 14700 strike Calls while liquidation 14800, 14900 strike Puts indicating market is likely to remain range bound in near term.

* Highest OI build-up is seen at 15000 strike Call and 14000 strike Put, to the tune of 9.71mn and 9.69mn respectively.

Outlook on Nifty:

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

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