MARKET ROUNDUP
Key indices continues its recent struggle as the market catapulted in the second half of the trading session on the back of intense selling pressure across-the-board. Weakness aggravated in today’s trade as index closed lower for the fourth consecutive session and in the process it registered a three-week low.
The NSE Nifty nose-dived below the 8,500-level in the midst of panic selling and touched a low of 8,423. The Nifty finally ended the day with a steep cut of 158 points (1.8 percent) at 8,448.
Post a flat start, the index remained under pressure. Rupee depreciated by 50 paise against US dollar triggered more sell off which pushed Nifty to close another 158 points lower. Nifty future premium decreased and settled at 22 point. India VIX increased 8.6% to settle at 16.29

F&O HIGHLIGHTS
FIIs sold 1508 crore while DIIs bought 963 crore in the cash segment. FIIs sold 1339 crore in index futures and bought 644 crore in index options. In stock futures, they sold 199 cror
The highest Put base stands at the 8500 strike with 45 lakh shares while the highest Call base is at the 9000 strike with 57 lakh shares. The 8500 and 8600 Calls saw additions of 16.2 and 21.0 lakh shares, respectively. The 8400 and 8300 Put strikes saw additions of 3.8 and 4.1 lakh shares, respectively

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 8460-8550.
Bank Nifty Future: After consolidating for major part of the day, the index witnessed sharp sell-off towards the end with further addition of 12% in OI towards shorts. The index is likely to remain volatile with selling in private sector banks.

STOCK ANALYSIS
OI addition : We saw long built up in Ambhujacem, Hexaware, while short built up was seen in Crompgreav, Nnmc, Heromotoco, Justdial, Relinfra.
 OI Shedding : We saw short covering in Havells, Jswsteel, Lichsgfin, Icicibank, Adanient,and long unwinding was seen in Hindzinc, Colpal, Tatamtrdvr, Dabur, Mrf .

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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