MARKET ROUNDUP
Market After trading under pressure for many sessions, the Indian equity market bounced back sharply on Monday. The Nifty surged past the 8300 mark as well as the 200 DMA. The Sensex surged 479 points led by Reliance, HDFC, ONGC, Infosys and ITC.
The NSE Nifty too opened with a positive gap of 50-odd points at 8,230. The index after touching a low of 8,220, embarked on a north-bound journey. The index reclaimed its 8,300-level, and touched a high of 8,346. The Nifty eventually settled with a strong gain of 1.8 percent (150 points) at 8,332.

F&O HIGHLIGHTS
Post a positive start, the Nifty witnessed decent buying throughout the day on the very first day after the expiry. Among index constituents, 45 ended in the green driving the Nifty 150 points higher at the close. Nifty future premium declined and settled at 40 point. India VIX rose 0.48% to settle at 17.30
FIIs bought 61 crore while DIIs bought 147 crore in the cash segment. FIIs sold 280 crore in index futures and bought 2288 crore in index options. In stock futures, they bought 749 crore
The highest Put base stands at the 8100 strike with 35 lakh shares while the highest Call base is at the 8600 strike with 36 lakh shares. The 8600 and 8400 Calls saw additions of 10.02 and 9.1 lakh shares, respectively. The 8200 and 8300 Put strikes saw additions of 7.2 and 6.0 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 8300-8400. Buy Nifty in the range of 8320-8330 for targets of 8360-8380, stop loss: 8300
Bank Nifty Future: The May series started with addition of above 5% towards longs with good build-up in the 19000 strike Call and 18500 strike Puts. We feel the momentum is likely to continue as private and public sector banks are participating well. Buy Bank Nifty in the range of 18450-18500, targets: 18600- 18700, stop loss: 18390.

STOCK ANALYSIS
OI addition : We saw long built up in Mindtree, Wockpharma, Suntv, Havells, Bharatforge, while short built up was seen Divislab, Igl, Exideind, Jppower, Lichsgfin .
OI Shedding : We saw short covering in Crompgreav, Centurytex, Petronet, M&Mfin, Hcltech,and long unwinding was seen in Unitech, Hexaware, Voltas, Ptc, Reliance.

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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