MARKET ROUNDUP
The key benchmark indices started the day on a flat note and weakened as the day progressed. A mid-day recovery saw the market wipe out losses and bounce back into the positive zone led by strong gains in banking stocks.
NSE Nifty moved in a range of 89-odd points, the index from a low of 8,219 soared to a high of 8,308, and finally settled 46 points lower at 8,240. The India VIX (Volatility) index was down a percent at 17.235.

F&O HIGHLIGHTS
Post a flat start, the Nifty remained volatile throughout the day on the back of rollover activity. It finally ended 46 points lower. Nifty future turned into a discount of 2 points. India VIX fell 1.01% to settle at 17.23
FIIs sold 718 crore while DIIs bought 913 crore in the cash segment. FIIs sold 197 crore in index futures and 1253 crore in index options. In stock futures, they bought 315 crore
The highest Put base stands at the 8200 strike with 57 lakh shares while the highest Call base is at the 8400 strike with 47 lakh shares. The 8300 and 8400 Calls saw additions of 8.5 and 6.5 lakh shares, respectively. The 8100 and 8300 Put strikes saw reductions of 8.22 and 5.75 lakh shares, respectively.

INDEX OUTLOOK
Nifty Future : Nifty is likely to open negative on the back of mixed global cues. It is likely to trade in the range of 8200-8280. Sell Nifty in the range of 8260-8265 for targets of 8230-8210, stop loss: 8280
Bank Nifty Future: Private sector banks are performing well, helping the Bank Nifty to hold above 18100. This momentum is likely to continue up to 18500 with sharp intraday volatility on the back of expiry. Buy Bank Nifty in the range of 18100-18140, targets: 18220-18350, stop loss: 18030.

STOCK ANALYSIS
OI addition : We saw long built up in Tvsmotors, Abirlanuvo, Mothersumi, while short built up was seen Apollotyre, Grasim, Titan, Srtransfin, Asianpaint.
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 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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