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Option Trend :- On the call options front we have seen addition of open interest in August series at strike price of 5400, 5500 and 5600.
On the put options front we have seen addition of open interest in August Series at strike price of 5300.
OI Concentration Chart Interpretation: 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.
Nifty Trend:- The Nifty closed at 5418.30. Nifty future (Aug.) closed at 5417.45 i.e. at a discount of 0.85 points vs. premium of 4.35 points and added 49200 shares in open interest.
The Nifty future (Sep.) closed at 5423.55 i.e. at a premium of 5.25 points vs. 11.60 points and added 359700 shares in open interest.
Interpretation: The Nifty future prices ended in the red territory along with an overall addition of open interest and decline in the cost of carry, this is an indication of shorts being built at higher levels.
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