The Nifty April future closed 69.40 pts or 1.19 % higher at 5903.55. The Nifty future closed with the mild gains and witnessed an increase of open interest by 0.11 % and increase in the cost of carry by 221.60 %. It indicates addition of long position and so Nifty future may show some upside in the short run.

The Bank Nifty April future closed 154.35 pts or 1.31 % higher at 11926.00. The Bank Nifty future closed with the gains of more than 1% and witnessed a decrease of open interest by 1.21% and increase in the cost of carry by 178.40 %. It indicates some fresh positions were accumulated in the long side and so some upside may be seen in Bank Nifty future in the short run.

The CNX IT April future closed -69.30pts or -1.01 % lower at 6799.45. The IT future closed with the loss of 1% and witnessed a decrease in open interest by 2.72 % and increase in the cost of carry by 129.21 %. It indicates some fresh positions were accumulated in the long side and so some upside can be seen in it in the short run.

On the call options front addition of open interest was witnessed in the last trading week at strike price of 6000 and 6100.

On the put options front we have seen addition of open interest in the last trading week at strike price of 5700 and 5800.

OI Chart Analysis: In coming sessions market may trade in a range of 5700-6100. The call option strike price with the maximum number of open interest i.e. 6000-6100 will act as major resistance level where as the put option strike price with the maximum number of open interest i.e. 5800-5700 will act as major support level.