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Summary

* Indian markets closed on negative note where selling was mainly seen in Automobiles, IT, Oil & Gas Sectors. Nifty Apr Futures closed at 23637.65 (down140.00 points) at a premium of 118.30 pts to spot.

* FIIs were net sellers in Cash to the tune of 4352.82 Cr and were net sellers in index futures to the tune of 3116.07 Cr.

* India VIX decreased by 4.37% to close at 12.72 touching an intraday high of 13.61.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 23900, 23800, 23700, 23600 strike Calls and at 23300, 23400, 23500 strike Puts indicating market is likely to remain cautious in the near term.

* Highest OI build-up is seen at 24000 strike Calls and 23000 strike Puts, to the tune of 15.51mn and 13.63mn respectively.

Open Interest in Nifty Options:

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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