MARKET ROUNDUP
Indian equity market started the holiday-shortened week on a positive note on the back of better than expected IIP data. Indices continued its upswing to seventh consecutive trading session on Monday with the Infra, FMCG and pharma stocks leading from the front.
The NSE Nifty touched a high of 8,842, and a low of 8,762 during the day. The NSE index ended with a gain of 54 points at 8,834. The three heavyweights added 25 points to the Nifty.

F&O HIGHLIGHTS
Post a positive start, follow-up momentum was seen throughout the day on Monday. Banking and auto remained under pressure whereas telecom, pharma and IT helped the Nifty to end 54 points higher. India VIX increased 1.63%
to settle at 14.48.
FIIs bought 417 crore while DIIs bought 46 crore in the cash segment. FIIs sold 166 crore in index futures and 132 crore in index options. In stock futures, they bought 106 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 52 lakh shares. The 9000 and 9100 Calls saw additions of 6.2 and 3.3 lakh shares, respectively. The 8700 and 8800 Put strikes saw addition of 9.2 and 11.9 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 8780-8860.
Bank Nifty Future: After surpassing 18500, the index is holding firm with the higher consolidation. The momentum is likely to continue towards the sizeable Call base of 19000.

STOCK ANALYSIS
OI addition : We saw long built up in Ofss, Centurytex, Glenmark, Biocon, Amtekauto, while short built up was seen in Gail, Tvsmotors, Bharatforge, Mothersumi, Dlf.
OI Shedding : We saw short covering in Boschltd, Hdfc, Itc, Adaniports, Upl, and long unwinding was seen in Jswenegy, Yesbank, M&M, Infy.

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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