MARKET ROUNDUP
The equity markets extended their losing streak further as heavy selling dragged the Nifty to breach below the 8700 mark intra-day. Indices have lost almost 4.5% from record highs in four days.
The NSE Nifty touched a low of 8,677, and eventually settled 45 points lower at 8,712. The NSE index is down 4.5 % (407 points) from its life-time high of 9,119 touched on 4 March, 2015, after the surprise RBI rate cut.

F&O HIGHLIGHTS
Post a flat start, the Nifty traded in a broader range of over 80 points. However, it finally ended 18 points lower. Nifty future premium increased and settled at 48 points. India VIX fell 1.77% and settled at 15.53.
FIIs sold 748 crore while DIIs bought 290 crore in the cash segment. FIIs sold 810 crore in index futures and bought 36 crore in index options. In stock futures, they bought 335 crore.
The highest Put base stands at the 8500 strike with 45 lakh shares while the highest Call base is at the 9000 strike with 56 lakh shares. The 8800 and 9000 Calls saw additions of 2.26 and 2.45 lakh shares, respectively. The 8600 and 8700 Put strikes saw additions of 4.40 and 3.10 lakh shares, respectively.

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. It is likely to trade in the range of 8710-8800.
Bank Nifty Future: After three days of selling, we saw long liquidation yesterday. The Bank Nifty has breached its highest Put base of 19000. Below these levels the quantum of selling may increase. On the higher side, 19500 would continue to act as a stiff hurdle.

STOCK ANALYSIS
OI addition : We saw long built up in Titan, Bhartiartl, Wockpharma, Idea, voltas while short built up was seen in Dlf, Justdial, Hdfc, Ultratech cement.
OI Shedding : We saw short cover in Exid ind, Hdil, Bharatforg, Ntpc, Igl and long unwinding was seen in Syndicate bank, Apollohospital

OI Chart Analysis: From the OI Chart we can see that in March Series addition of open interest on the calls front is existent in the band at strike price of 9000-9100 indicating it as resistance on the upside whereas on the put options front we can see that addition of open interest is existent at strike price of 8700-8600 indicating it as immediate support zone on the downside

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