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Summary

* Indian markets closed on a negative note where selling was mainly seen in Banking, Automobiles and Oil & Gas sectors. Nifty Apr Futures closed at 22055.20 (down 145.55 points) at a premium of 59.35 pts to spot.

* FIIs were net sellers in Cash to the tune of 4260.33 Cr and were net sellers in index futures to the tune of 7020.80 Cr.

* India VIX increased by 3.36% to close at 13.04 touching an intraday high of 13.39.

* The above second chart shows previous trading day’s change in Nifty options where Liquidation in OI were seen in 22100, 22000, 21900, 21800 strike Puts and at 22300, 22200, 22100 strike Calls indicating market is likely to remain negative in the near term.

* Highest OI build-up is seen at 22500 strike Calls and 22000 strike Puts, to the tune of 7.55mn and 12.42mn respectively.

Outlook on Nifty:

Index is likely to open on a gap down note today and is likely to remain negative during the day.

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