MARKET ROUNDUP
The surprise rate cut of another 25 bps from the RBI and FII's buying spree post the Budget helped the Nifty to move above the highest Call base of 9000 strike. However, profit booking near the psychological level brought the index down to 8900 towards the close of the week
During the week, major Nifty gainers were Sun Pharma (14.02%), Cipla (8.4%), Lupin (5.2%), HDFC Ltd (4.5%) and BPCL (4.1%). • On the other hand, Nifty losers of the week were NMDC (-8.5%), Coal India (--7.6%), Cairn India (-6.1%), Jindal Steel and Power (-5.3%) and M&M (-4.9%)

F&O HIGHLIGHTS
Post a flat start, the Nifty remained choppy and volatile throughout the day. It finally ended only 15 points higher. Nifty future premium increased and settled at 51 points. India VIX fell 4.90% and settled at 14.43.
FIIs bought 80 crore while DIIs sold 194 crore in the cash segment. FIIs bought 76 crore in index futures. In stock futures, they sold 154 crore.
The highest Put base stands at the 8500 strike with 44 lakh shares while the highest Call base is at the 9000 strike with 43 lakh shares. The 8900, 9000 and 9100 Calls saw additions of 2.33, 2.70 and 2.80 lakh shares, respectively. The 8900 and 8700 Put strikes saw additions of 5.45 and 3.20 lakh shares, respectively.

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open gap down on the back of weak global cues. It is likely to trade in the range of 8875-8975.
Bank Nifty Future: Select public and private sector banks remained under pressure. On the option front, we had seen huge addition in 20000-20100 strike Calls indicating these levels are likely to act as hurdles, going forward.

STOCK ANALYSIS
OI addition : We saw long built up in Divis lab, Ubl, Dabur, Glenmark while short built up was seen in Acc, Hindalco, Gail,Ultratech cement, Nhpc
OI Shedding : We saw short cover in Zeel, Boschltd and long unwinding was seen in Unitech,Sbin, Ntpc

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 9000-9200 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 8800-8500 indicating it as immediate support zone on the downside.

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