The Nifty closed at 5420.60. Nifty future (Aug.) closed at 5411.90 i.e. at a discount of 8.70 points vs. premium of 0.25 points and added 8671500 shares in open interest.
The Nifty future (Sep.) closed at 5419.75 i.e. at a discount of 0.85 points vs. premium of 5 points and added 112150 shares in open interest.
The cost of carry is at -3.90% vs. +0.08%.
Interpretation: The Nifty future prices ended in red territory along with overall addition of open interest and decline in the cost of carry, this is an indication of shorts being built in the markets at higher levels.
On the call options front we have seen addition of open interest in August series at strike price of 5400 & 5600.
On the put options front we have seen addition of open interest in August Series at strike price of 5200, 5300 and 5100. Shredding of open interest was witnessed at strike price of 5400 and 5500 puts.
OI Concentration Chart Interpretation: From the OI Chart we can see that in August Series maximum addition of open interest on the calls front is existent at strike price of 5500 & 5600 indicating it as Resistance on the upside whereas on the put options front we have seen addition of open interest at strike price of 5300 indicating it as
immediate support on the downside. Shredding of open interest at 5400 puts marks caution.
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