MARKET ROUNDUP
The bear onslaught continued for the seventh consecutive session on Thursday as weak global cues, Middle-East worries and F&O expiry dragged the Nifty below 8350 levels. The Nifty tumbled 189 points points while the Sensex plunged over 600 points.
The NSE Nifty tumbled not only slipped below the 8,500-level, but also nose-dived below the 8,400-level, to touch a low of 8,325. The Nifty eventually ended with a loss of 189 points at 8,342.

F&O HIGHLIGHTS
Volatility ruled the roost yet again. After hitting a March series low, the Nifty ended 189 points lower. The breadth was week with banking, IT and metals suffering more than others. Nifty future started with OI of 2.23 crore shares with a premium of 114 points.
FIIs sold 521 crore while DIIs bought 687 crore in the cash segment. FIIs sold 2167 crore in index futures and bought 2084 crore in index options. In stock futures, they sold 1468 crore.
The highest Put base for the April series is placed at the 8200 strike with 23.80 lakh shares while the highest Call base is at 8600 strike with 22.11 lakh shares.

INDEX OUTLOOK
Nifty Future: Nifty is likely to open flat on the back of mixed global cues. It is likely to trade in the range of 8450-8530.
Bank Nifty Future: Bank Nifty rollover was at 67%, marginally above its 3M average. The index remained under pressure with private sector banks leading the pain pointing towards more choppiness in coming days.

STOCK ANALYSIS
OI addition : We saw long built up in Petronet, Sun tv, Igl, Iob, Idea while short built up was seen in Bata india, Union bank, Cesc, Apollotyre, Mrf
OI Shedding : No short cover and long unwinding in the market

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 8800-8600 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 8300-8200 indicating it as immediate support zone on the downside

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