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

NIFTY OI DATA

NIFTY OI DATA
5100 calls add OI and now have OI above 63 Lacs which suggest massive resistance in the 5100 area
5200 calls add OI and now have OI above 72 lacs so better forget above 5200 in nifty for the December series.
5000 puts shed OI but still have significant OI which suggest support at 5000 and maybe a bounce till 5080-5100 area aggressive traders can short in this bounce with SL of a close above 5100 OR if nifty trades above 5120 for 5 mins.

See dollar index its trading at 76.82 and also see the previous post about dollar index :)