MARKET ROUNDUP
FIIs were net buyer in cash market segment of worth Rs. 838 crores. In Index Futures they sold significantly of Rs. 1884 crores with decent fall in open interest indicating long unwinding in last trading session.
Yesterday for the first time in current series we saw decent unwinding by FIIs in Index Futures. Most of the long positions formed back in last two series are still in system and these are FIIs positions. One should not aggressively short this market.

F&O HIGHLIGHTS
Post a negative start, the Nifty was seen under pressure throughout the day. All major sectors ended in the red whereas Nifty futures ended 200 points lower. Nifty future premium declined and settled at 28 points. India VIX increased 9.52% and settled at 15.81
FIIs bought | 838 crore while DIIs sold | 35 crore in the cash segment. FIIs sold | 1885 crore in index futures and bought | 2943 crore in index options. In stock futures, they bought | 175 crore
The highest Put base stands at the 8500 strike with 47 lakh shares while the highest Call base is at the 9000 strike with 54 lakh shares. The 8800, 8900 and 9000 Calls saw additions of 10.84, 16.16 and 10.74 lakh shares, respectively. The 8500 and 8400 Put strikes saw additions of 16.10 and 2.95 lakh shares, respectively.

INDEX OUTLOOK
Nifty Future: The Nifty is likely to open flat on the back of mixed global cues. It is likely to trade in the range of 8780-8860. Sell Nifty in the range of 8840-8845 for targets of 8810-8790, stop loss: 8860
Bank Nifty Future: The selling continued for the third day in a row with the index failing to hold the important level of 19500. Going forward, it is likely to approach the highest Put base of 19000. Sell Bank Nifty in the range of 19400-19450, targets: 19300-19150, stop loss: 19510

STOCK ANALYSIS
OI addition : We saw long built up in Hindunilvr, Upl, M&mfin, Havells while short built up was seen in Igl. Mindtree, Hindalco, Irb infra, Rcom
OI Shedding : We saw short cover in Dabur, Drreddy, Sunpharma, Jindalsteel and long unwinding was seen in Mothersumi, Bpcl,Unitech, Ongc

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 8800-8500 indicating it as immediate support zone on the downside

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