The Nifty May future closed at 9225.15 at a discount of 14.05 to the spot. Lacklustre moves dominated yesterday's trade, with upmoves failing to gain traction, after the opening hour. VIX declined 0.96% to 38.0375, but is still up from the 34 levels seen last week.
Nifty Outlook
Despite the visible disinclination of Nifty to make much headway on the upside, most of the activity along puts have come along adding shorts, with 9000 and 8700 seeing the highest build up. However, 8500, the second most active put strike has seen reduction in OI. Meanwhile, calls have continued to short build up streadfastedly, with 10000 and 9400 seeing the highest addition to shorts. Notably, ITMs and ATMs are not where the traders' interests are, suggesting that a range expansion is very much on the cards.