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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 14343.20 (down 546.15 points) at a premium of 32.45 pts to spot.

* FIIs were net sellers in Cash to the tune of 1746.43 Cr and were net sellers in index futures to the tune of 1740.45 Cr.

* India VIX increased by 16.22% to close at 23.00 touching an intraday high of 23.30

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, 14400, 14500, 14600 strike Calls and at 14300, 14000 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 9.40mn and 8.10mn 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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