Nifty is in sell mode in all the timeframes. When looking into the open interest details of May 2012 option series we could found that 4900PE has the higher open interest indicating that put writers are confident of holding 4900(support) for the current option series and also 5200CE shows a good amount of open interest builtup and has slightly lesser amount of open interest when compare to 4900PE.
Rajandran R Follow
Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, USDINR and High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in and Co-Creator of Algomojo (Algorithmic Trading Platform for DIY Traders)
Nifty Open Interest Update for May 2012 Option Series
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Hi Rajandran, total calls open interest is much higher than total puts open interest, I believe nifty is short sell on every bounce.