MARKET ROUNDUP
Indian equity markets snapped its seven-day winning streak after all round selling in the last hour of the day dragged the indices lower. The Sensex shed 245 points, while Nifty slipped 84 points.
After managing a steady recovery during the course of the day, the market fell like a pack of cards. Auto, IT, telecom, pharma and banking stocks were among the top laggards.

F&O HIGHLIGHTS
Post a flat start, the Nifty remained lacklustre for a major part of the day. However, in the last 30 minutes, the index fell over 100 points on the back of selling in majority of the sectors. Nifty future premium increased and settled at 36 point. India VIX increased 1.0% to settle at 14.62
FIIs bought 108 crore while DIIs sold 60 crore in the cash segment. FIIs bought 783 crore in index futures and 77 crore in index options. In stock futures, they sold 20 crore
The highest Put base stands at the 8600 strike with 45 lakh shares while the highest Call base is at the 9000 strike with 56 lakh shares. The 9000 and 9200 Calls saw additions of 3.2 and 1.1 lakh shares, respectively. The 8700 and 8800 Put strikes saw reductions of 2.3 and 2.2 lakh shares, respectively

INDEX OUTLOOK
Nifty Future: Nifty is likely to open flat to positive on the back of mixed global cues. It is likely to trade in the range of 8780-8860.
Bank Nifty Future: The level of 19000 triggered some profit booking. However, on the options front, the maximum concentration of position for the week is still placed at 18500 Puts and 19000 Calls indicating that consolidation is likely to continue unless the index closes above 19000 levels.

STOCK ANALYSIS
OI addition : We saw long built up in Acc,Tatacomm,Ambujacem,Unionbank,Cairn,while short built up was seen in Srtransfin,Igl,Dabur,M&M,Upl.
OI Shedding : We saw short covering in Federalbnk, Orientbank, Sslt, Ucobank, TataPower, and long unwinding was seen in Voltas, Wockpharma, Ashokley.Star, jppower.

OI Chart Analysis: From the OI Chart we can see that in April Series addition of open interest on the calls front is existent in the band at strike price of 8600-8500 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 8400-8300 indicating it as immediate support zone on the downside.

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