MARKET ROUNDUP
Nifty witnessed a recovery after recent sell-offs primarily due to short covering prior to the important RBI meet in the upcoming week . The Nifty gained close to 2.9% and ended the week near crucial 8600 levels.Some selling pressure was observed in the technology space.
During the week, major Nifty gainers were Idea Cellular (10.07%), BPCL (7.3%), Sun Pharma (6.9%), Bharti Airtel (6.85%) and HDFC Ltd (5.9%). On the other hand, Nifty losers of the week were HCL Technologies (-2.3%), Tech Mahindra (-2.4%), Hindalco Industries (-1.4%), Infosys (-1.3%) and Cairn India (-0.9%) .

F&O HIGHLIGHTS
Post a flat start, the index remained range bound in the first half. However, on the back of the RBI policy next week, traders covered leveraged positions, leading the Nifty to close 95 points higher. Nifty future premium increased and ended at 47 point. India VIX fell 5.71% to end at 13.66
FIIs bought 210 crore while DIIs bought 197 crore in the cash segment. FIIs bought 75 crore in index futures and 1474 crore in index options. In stock futures, they bought 148 crore
The highest Put base stands at the 8400 strike with 37 lakh shares while the highest Call base is at the 9000 strike with 31 lakh shares. The 8500 and 8600 Calls saw reduction of 4.87 and 2.40 lakh shares, respectively. The 8400 and 8600 Put strikes saw addition of 7.22 and 4.15 lakh shares, respectively

INDEX OUTLOOK
Nifty Future: Nifty is likely to open gap up on the back of strong global cues. It is likely to trade in the range of 8500-8590.
Bank Nifty Future: For the second day in a row, the index managed to end above 18500 with aggressive short covering seen in the last trading session. The momentum is likely to continue before the RBI policy meet scheduled later this week.

STOCK ANALYSIS
OI addition : We saw long built up in Sun tv, Dish tv, Century Textile, Eicher Motor, Dabur while short built up was seen in Tvsmotor, Jubiliant Food, Titan.
OI Shedding : We saw short covering in Ranbaxy, Sunpharma, Sail, Indian Overseas Bank and long unwinding was seen in Maruti, JP power, Hcl Tech.

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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