MARKET ROUNDUP
Market cracked heavily especially in the last hour of trades. Banking stocks and select index heavyweights like Reliance Industries and ITC were on the sellers list. The Sensex ended 152 points lower, while the Nifty shed 51 points.
NSE Nifty tumbled 173 points in intra-day deals, from a high of 8,788 the index plunged to a low of 8,615 before settling with a loss of 51 points at 8,635.

F&O HIGHLIGHTS
Post a gap up opening, the Nifty was unable to carry on the momentum. This resulted in profit taking and fresh additions of short positions throughout the day. The index, which was 80 points higher finally, settled 70 points lower on the future side. The Nifty future premium fell and settled at 1 point. India VIX declined 2.03% and settled at 15.19
FIIs bought 1428 crore while DIIs bought 53 crore in the cash segment. FIIs bought 171 crore in index futures and 1101 crore in index options. In stock futures, they bought 448 crore
The highest Put base stands at the 8400 strike with 50 lakh shares while the highest Call base is at the 9000 strike with 59 lakh shares. The 8700 and 8800 Calls saw additions of 7.71 and 4.90 lakh shares, respectively. The 8600 and 8700 Put strikes saw addition of 3.77 and 1.20 lakh shares, respectively.

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat to positive on the back of mixed global cues. It is likely to trade in the range of 8640-8714.
Bank Nifty Future: The index took a u-turn and again closed below the important levels of 19000. Fresh addition of over 5% was seen on the short side indicating that the index will trade in a broader range, going forward.

STOCK ANALYSIS
OI addition : We saw long built up in Justdial, Havells, Infosys, Lupin, M&m fin while short built up was seen in Techm, Hcltech, Idea, Orient bank, Crompgreav
OI Shedding : We saw short cover in Tatasteel, Tcs, Star, Ubl, Sunharma and long unwinding was seen in Century tex, Relinfra, Hdfcbank, Voltas, Unitech

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 8500-8400 indicating it as immediate support zone on the downside

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