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Nifty outlook:  

Bulls did regroup after downswings extended to 17890 unexpected lines, but the pull back thereof was not sizable enough to signal further directional cues. The evening star candlestick pattern thus formed on Friday's Close lends a weak bias, but the proximity of key supports encourages us to retain hopes of a few more upside attempts. We will however, look for consistent trades above 18035, to be convinced of sizable upside potential. This construct allows for the downside marker to be placed near 17750.

Derivative:

Nifty weekly contract has highest open interest at 18000 for Calls and 18000 for Puts while monthly contracts have highest open interest at 18000 for Calls and 18000 for Puts. Highest new OI addition was seen at 18000 for Calls and 17900 for Puts in weekly and at 18000 for Calls and 17900 for Puts in monthly contracts. FIIs increased their future index long position holdings by -4.18%, increased future index shorts by 9.24% and in index options by 26.26% in Call longs, 24.49% in Call short, 60.41% in Put longs and 34.14% in Put shorts.

USD-INR outlook:

Expect initial slippages to be contained near 82.69, followed by upswings to 82.95. Alternatively, a breach of 82.69 could call for 82.43.