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Summary

* Indian markets closed on a negative note where selling was mainly seen in Banking, Pharmaceuticals and Oil & Gas sectors. Nifty Apr Futures closed at 22601.45 (down 210.95 points) at a premium of 82.05 pts to spot.

* FIIs were net sellers in Cash to the tune of 8027 Cr and were net sellers in index futures to the tune of 1996.73 Cr.

* India VIX increased by 3.82% to close at 11.53 touching an intraday high of 11.61.

* The above second chart shows previous trading day’s change in Nifty options where Addition in OI were seen in 22400, 22200, 22100, 22000 strike Puts and at 22500, 22600, 22700 strike Calls indicating market is likely to remain cautious in the near term.

* Highest OI build-up is seen at 23000 strike Calls and 22000 strike Puts, to the tune of 11.91mn and 12.95mn 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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