Options Review - On the call options front we have seen shredding of open interest in August series at strike price of 5400 and 5500, whereas addition of open interest was seen at strike price of 5600. On the put options front we have seen addition of open interest in August Series at strike price of 5500, 5400 and 5200.

OI Concentration Chart Interpretation: From the OI Chart we can see that in August Series maximum addition of open interest on the calls front is existent at strike price of 5600 indicating it as Resistance zone on the upside whereas on the put options front we have seen addition of open interest at strike price of 5500 and 5400 indicating it as immediate support zone on the downside.

Nifty Review - Nifty closed at 5540.20. Nifty future (Aug.) closed at 5527.70 i.e. at a discount of 12.50 points vs. premium of 3.90 points and shredded -586950 shares in open interest.

The Nifty future (Sep.) closed at 5535.65 i.e. at a discount of 4.55 points vs. premium of 8.20 points and added 1781050 shares in open interest.

Interpretation: The Nifty future prices with good gains along with an overall addition of open interest but decline in the cost of carry, this is an indication of some shorts being built at higher levels