The markets opened on a negative note, after the short-lived rally yesterday and Nifty made a low of 5169 before closing at 5195, down by 0.92% for the day. The market breadth was extremely negative with 366 advances to 1144 declines and the FIIs were net sellers to the tune of 148 crores , while the DIIs were net buyers to the tune of  73 crores in the cash markets, but the FIIs were net buyers in Index and stock futures to the tune of 173 and 282 crores respectively.Nifty  April futures closed the day at 5247, a whooping 52 points premium to the spot, with a massive addition of open interest, which is quite obvious at the start of the new series. On the options side the PCR fell to 0.95. On the call side April Nifty 5400 call added the maximum open interest followed by the 5200 and 5300 calls on the put side April Nifty 5000 put added the maximum open interest followed by the 5200 and 5100 puts. On the call side there is a maximum buildup of open interest on 5600 call followed by the 5400 call on the put side there is maximum buildup on the 5000 put followed by the 5200 put. On the technical side Nifty has breached the crucial level of 5190 and somehow managed to close above it, the indicators are still in a sell mode, but the monthly expiry may lead to short technical bounce-back. Going forward the levels to watch out for Nifty tomorrow, will be 5230,5266 on the upside and 5132, 5096 on the downside. The European markets ended in the red mainly on the back of worse than expected U.K's GDP numbers, while the U.S. markets are trading in the red on the back of below the expectations, durable goods data and rise in crude oil inventories.