MARKET ROUNDUP
Just ahead of the much-awaited Fed meet, the Indian equity market closed near day’s high on Tuesday with Nifty comfortably perched above the 8700 mark. The upswing was led by late buying in banking, auto, capital goods and healthcare stocks.
The Sensex rallied almost 300-points, while the Nifty surged 90 points. The broader market also finished in green. The CNX Midcap index rallied a per cent to 13,233, and the Smallcap index was up 0.8 per cent at 5,685.

F&O HIGHLIGHTS
Post a positive start, the Nifty witnessed a rollercoaster ride in which sectoral rotation was seen. However, towards the end, the index managed to end 90 points higher. Nifty future premium declined and settled at 17 points. India
VIX fell 1.33% and settled at 15.12.
FIIs bought 266 crore while DIIs sold 244 crore in the cash segment. FIIs sold 487 crore in index futures and bought 710 crore in index options. In stock futures, they bought 799 crore
The highest Put base stands at the 8400 strike with 49 lakh shares while the highest Call base is at the 9000 strike with 54 lakh shares. The 8700 and 8800 Calls saw reduction of 3.90 and 6.20 lakh shares, respectively. The 8700 and 8800 Put strikes saw addition of 5.75 and 0.95 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 8690-8770
Bank Nifty Future: The index has managed to close above the crucial level of 19000 with fresh additions on the long side indicating that momentum is likely to continue up to 19400-19500.

STOCK ANALYSIS
OI addition : We saw long built up in Dabur, Techm,Ioc, Siemens,Mothersumi while short built up was seen in Hcltech, Jindalsteel,Ashokley land, Dishtv
OI Shedding : We saw short cover in Recltd, Sslt, Tatamtrdvr, Itc, Ambuja cement and long unwinding was seen in Ubl, Bank baroda, Coalindia

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 8500-8400 indicating it as immediate support zone on the downside.

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