Nifty 11004(-72) BankNifty 27855(-244)
Nifty futures open Interest went up by +4.6% indicating addition of fresh shorts. Nifty(spot) had taken support above its 21DMA of 10969 in the last few sessions, it has to hold above this level to move up further, on the downside 10890-10860 would be the support level.
OI in BankNifty declined by -4.9% as longs got un-winded. BankNifty(spot) would consolidate in the range of 28100-27600, any break in this range would set the next trend.
Nifty futures open Interest went up by +4.6% indicating addition of fresh shorts. Nifty(spot) had taken support above its 21DMA of 10969 in the last few sessions, it has to hold above this level to move up further, on the downside 10890-10860 would be the support level.
OI in BankNifty declined by -4.9% as longs got un-winded. BankNifty(spot) would consolidate in the range of 28100-27600, any break in this range would set the next trend.