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Summary

* Indian markets closed on negative note where selling was mainly seen in IT, Automobiles, Metals Sectors. Nifty Apr Futures closed at 23325.95 (down 113.00 points) at a premium of 75.85 pts to spot.

* FIIs were net sellers in Cash to the tune of 2806.00 Cr and were net sellers in index futures to the tune of 1910.42 Cr.

* India VIX decreased by 0.89% to close at 13.60 touching an intraday high of 14.11.

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 23500, 23400, 23300 strike Calls and at 23000, 23100, 23200, 23300 strike Puts indicating market is likely to remain range bound in the near term.

* Highest OI build-up is seen at 23500 strike Calls and 23000 strike Puts, to the tune of 11.03mn and 15.02mn 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 range bound during the day.

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