Nifty Closed todays with possitive sign, It would be bullish if it nanage level of 5566 otherwise seems bearsish form the level of 5340.The Indian VIX which is currently at 22.85 and it was up by 0.27 % or 1.20 points indicates that the market will continue to volatile in the short term.

Nifty Resistance - It would be 5566 - 5622

Nifty Support - It would be 5340 - 5195

On the call options front we can see that accumulation of open interest is seen at strike price of 5500 and 5600.

On the put options front we have seen addition of open interest at strike price of 5400 and 5300.

OI Chart Analysis: From the OI Chart we can see that in Feb. Series addition of open interest on the calls front is existent at strike price of 5600 indicating it as resistance on the upside whereas on the put options front we can see that addition of open interest on the puts front is existent at strike price of 5400-5300 indicating it as immediate support zone on the downside.