The index fell for the second day after a three day winning streak. The Sensex closed down 1.47% and the Nifty closed down 1.48% due to a slump in the rupee reigniting fears of foreign investor selling. Tata Power, SBI, Sterlite Industries, Tata Steel and Hindalco were major losers, shedding around 5% each. Lenders fell after RBI mandated higher provisioning against currency exposure. The document provides analysis of option trades, top gainers and losers, F&O statistics and outlook/recommendations for Nifty and Bank Nifty options.