MARKET ROUNDUP
Nifty was unable to move above our last stated resistance of 8630 and remained under pressure throughout the week. Selling pressure intensified due to VWAP activity on March expiry and the Nifty moved to its lowest levels since January 15. The March series settled at 8342 losing close to 6% from its highs and 4% in the series
During the week, major Nifty gainers were Bharat Petroleum (3.10%), Lupin Ltd (2.5%), M&M (1.99%), Hindalco Industries (1.44%) and IDFC Ltd (0.57%) • On the other hand, Nifty losers of the week were Punjab National National Bank (-9.9 %), Bank of Baroda (-6.8 %), Wipro Ltd (- 6.2%), HDFC Ltd (-5.7%) and Coal India (-5.5%)

F&O HIGHLIGHTS
Index remained volatile throughout the day on the very first day after the expiry. With choppiness remaining high, the Nifty saw a decent pullback backed by banking and metals stocks close flat.
Nifty future premium fell and settled at 94 point. India VIX fell 4.36% and settled at 14.50FIIs sold 321 crore while DIIs bought 677 crore in the cash segment. FIIs bought 392 crore in index futures and 3504 crore in index options. In stock futures, they bought 142 crore.
The highest Put base stands at the 8200 strike with 25 lakh shares while the highest Call base is at the 9000 strike with 28 lakh shares. The 8400 and 8500 Calls saw additions of 4.25 and 7.20 lakh shares, respectively. The 8400 and 8000 Put strikes saw additions of 3.25 and 6.60 lakh shares, respectively

INDEX OUTLOOK
Nifty Future: Nifty is likely to open flat to positive on the back of mixed global cues. It is likely to trade in the range of 8450-8530.
Bank Nifty Future: Last Friday we had seen short covering in the Bank Nifty. The Nifty failed to hold the expiry day low whereas the Bank Nifty remained firm above the expiry day low indicating momentum is likely to continue today.

STOCK ANALYSIS
OI addition : We saw long built up in Hexaware, Upl, Axisbank,Centurytex, Godrej ind while short built up was seen in Bhartiartl, Idea,Idbi, Hdil, Wockpharma
OI Shedding : We saw short cover in Sbin, Nhpc, Apollotyre, Lt and long unwinding was seen in the Ranbaxy, Ptc, Jswenergy

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 8800-8600 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 8300-8200 indicating it as immediate support zone on the downside.

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