Ya, if open interest rises , that means new options are being written or bought .
Let me give an example - if open interest of nifty november 2600 call option rises by 40 % on a perticular session ,what will that suggest? are people buying 2600 calls or writing 2600 calls .Both will have opposite implication.buyers are bullish while writers are bearish.
How to differentiate between call buyers and call writers of a perticular strike?