The Nifty Index in last trading session ended with loss of more than half a percent. On the derivatives front we have seen that the Nifty Futures prices ended in the red along with shredding of open interest and decline in the cost of carry, this is an indication of unwinding by the longs. On the options front we have seen that the OI PCR is currently at 1.18 vs. 1.21 whereas the Volume PCR is at 0.98 vs. 1.05. On the volatility front we have seen that the Indian VIX has dropped by nearly one percent indicating lesser volatility.

On the call options front we can see that accumulation of open interest is seen at strike price of 5500-5600. On the put options front we have seen addition of open interest at strike price of 5300, 5400 and 5000. OI Chart Analysis: From Our OI Chart we can see that in Mar. Series 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 can see that addition of open interest is existent at strike price of 5400-5200 indicating it as immediate support zone on the downside.