MARKET ROUNDUP
Whether it is year-end profit taking, weakening sentiment or just lack of positive triggers, the market continued its downward trajectory, with Bank Nifty being the biggest dragger. Rollovers are yet to pick up with just two days left for expiry.
Nifty saw maximum OI build up on options side at 8500 puts indicating support levels for March expiry. NTPC, Hindalco were the major gainers, while Jindal Steel tumbled over 6%.

F&O HIGHLIGHTS
Post a flat start, choppiness prevailed throughout the day. The Nifty finally ended at the March series low losing 31 points. The Nifty future premium increased and settled at 31 point. India VIX remained flat and settled at 14.27
FIIs bought 417 crore while DIIs bought 404 crore in the cash segment. FIIs sold 427 crore in index futures and 259 crore in index options. In stock futures, they sold 100 crore
The highest Put base stands at the 8500 strike with 53 lakh shares while the highest Call base is at the 9000 strike with 46 lakh shares. The 8500 and 8600 Calls saw additions of 2.10 and 10.14 lakh shares, respectively. The 8600 and 8700 Put strikes saw reductions of 5.94 and 4.96 lakh shares, respectively

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat to negative on the back of mixed global cues. It is likely to trade in the range of 8550-8630.
Bank Nifty Future: The index ended marginally below the important level of 18500. Rollover activity is also muted indicating we may see sharp volatility, going forward. However, overall, the setup is negative and one can sell on rise with intermediate resistance at 18800.

STOCK ANALYSIS
OI addition : We saw long built up in Havells, Bhartiartl, Petronet, Gail, Wockpharma while short built up was seen in Idea,Bhel, Zeel, Apollohospital, Infosys
OI Shedding : We saw short cover in Hindalco, Igl, Pnb, Cesc and long unwinding was seen in Ktkbank, Jswsteel, Reliance, Hdfcbank

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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