Nifty 11556(-3) BankNifty 30569(-35)
Nifty futures open Interest went up by +2.5% as fresh longs got added at lower levels. Nifty(spot) has to consolidate above its 100DMA of 11501 for a bounce back towards 11630-11650 levels.
OI in BankNifty declined by -4.3% indicating wind-up of short positions. BankNifty(spot) closed marginally above its 50DMA of 30518, if holds above this level then it can move towards 30750-30800.
Nifty futures open Interest went up by +2.5% as fresh longs got added at lower levels. Nifty(spot) has to consolidate above its 100DMA of 11501 for a bounce back towards 11630-11650 levels.
OI in BankNifty declined by -4.3% indicating wind-up of short positions. BankNifty(spot) closed marginally above its 50DMA of 30518, if holds above this level then it can move towards 30750-30800.