Nifty 10651(+19) BankNifty 25661(+44)
Nifty futures open interest was almost flat +0.2% with Nifty gaining marginally indicating Longs are holding their positions. Technically, Nifty(spot) closed near to its resistance of 10660, if breaks and holds then it can move towards 10695-10720 levels. On the downside, 10580 would be the nearby support level.
OI in BankNifty declined marginally by -1.7%, indicating Short covering. Technically, BankNifty(spot) continue to locked in the same trading range of 25400-25800 for the last few sessions, market data such as IIP and Inflation would influence the next major move in BankNifty.
Nifty futures open interest was almost flat +0.2% with Nifty gaining marginally indicating Longs are holding their positions. Technically, Nifty(spot) closed near to its resistance of 10660, if breaks and holds then it can move towards 10695-10720 levels. On the downside, 10580 would be the nearby support level.
OI in BankNifty declined marginally by -1.7%, indicating Short covering. Technically, BankNifty(spot) continue to locked in the same trading range of 25400-25800 for the last few sessions, market data such as IIP and Inflation would influence the next major move in BankNifty.