Nifty and Bank Nifty hourly charts maintains the downtrend with resistance zone coming around 8366.9 and 19010.9 Trend will reverse to upwards direction if the resistance zone breaks on the hourly charts (on hourly basis). It should be noted that last Friday Dowjones ends with a -170 points after two big continuous positive streaks.
In commodity markets, oil prices remained under pressure having hit their lowest since April 2009.
Nifty Open Interest Charts
Still the put writers are at 8000PE right from the beginning of the jan series. 8000PE and 8100PE holds the higher open interest where the density of option writing is seen mostly.