Nifty Trend
The Nifty closed at 5416.45. Nifty future (Aug.) closed at 5419.70 i.e. at a premium of 3.25 points vs. discount of 8.70 points and added 1300 shares in open interest.The Nifty future (Sep.) closed at 5426.35 i.e. at a premium of 10 points vs. discount of 0.85 points and added 132450 shares in open interest.
The Nifty future prices ended in almost flat along with an overall addition of open interest and increase in the cost of carry, this is an indication of that market rose on account of some short covering along with some longs being built at lower levels.
F&O Trend
On the call options front we have seen addition of open interest in August series at strike price of 5300 & 5600 whereas shredding of open interest was witnessed at strike price of 5500 and 5500.On the put options front we have seen addition of open interest in August Series at strike price of 5200, 5300 and 5400.
In August Series maximum addition of open interest on the calls front is existent at strike price of 5500 & 5600 indicating it as Resistance on the upside whereas on the put options front we have seen addition of open interest at strike price of 5300 indicating it as immediate support on the downside.
