MARKET ROUNDUP
Indices were seen reacting wildly to news and earnings flow. Markets got off to a healthy start despite lackluster global cues. Some help came from previous day’s data that Consumer Price Index based inflation had softened to a four-month low of 4.87% in April 2015 when compared with 5.25% mom.
The NSE Nifty swung in a huge range of 165 points. The NSE index soared to a high of 8,255 in morning trade, and thereafter slipped into red all-the-way below the 8,100-level to touch a low of 8,090. The rally in the second half of the trading session saw the Nifty settle with a gain of 108 points at 8,235.

F&O HIGHLIGHTS
Post a positive start, the Nifty remained extremely volatile and witnessed sharp swings of over 130 points a couple of times in the day. Towards the end, it finally ended 110 points higher. Nifty future premium increased and settled at 15 point. India VIX increased 1.0% to settle at 20.68
FIIs sold 71 crore while DIIs bought 254 crore in the cash segment. FIIs sold 649 crore in index futures and bought 494 crore in index options. In stock futures, they bought 428 crore
The highest Put base is at the 8100 strike with 47 lakh shares while the highest Call base is at the 8500 strike with 45 lakh shares. The 8200 and 8300 Call strikes saw reductions of 1.4 and 7.5 lakh shares, respectively. The 7800 and 8000 Put strikes saw additions of 1.2 and 1.05 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 8200-8300.
Bank Nifty Future: On the back of short covering, the index again ended above 18000. Overall, it has been trading in a band of 17600-18200 for many trading sessions. We feel consolidation with high volatility is likely to continue in the coming days.

STOCK ANALYSIS
OI addition : We saw long built up in Apollohosp,Adanient, Jublfood, Yesbank, Adaniports while short built up was seen HDIL, TVSmotor, Zeel, Hindalco, Igl
OI Shedding : We saw short covering in Eichermot, Cipla, ICICIbank, AXISbank, IOC,and long unwinding was seen in NIL.

OI Chart Analysis: From the OI Chart we can see that in May Series addition of open interest on the calls front is existent in the band at strike price of 8400-8500 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 8100-8000 indicating it as immediate support zone on the downside.

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