NIFTY OI DATA

NIFTY OI DATA.
5100 and 5200 call have OI at 69 and 74 lacs respectively which means nifty to face massive resistance at these levels. So please avoid buying these two calls in expectation of a break out in case of a nifty up move towards 5100 and above.
5000 put shed OI but still has more than 50 lac of open positions which means 5000 likely to provide support especially with the 50 DMA t 5005.
NIFTY futures shed OI which means today was a day of short covering and long additions was absent.
Expect a very tight range of 5000-5100 for next few days and that too with a negative bias.
Dollar index made new high of 77.02 and now trading at 76.82