It seems the tug of war has been started between the 5200 put writers and 5400 call writers which keeps the market in a very compressed and in sideways mode.
Almost equal amount of open interest is build in both 5200 put writers and 5400 call writers which indicates both are confident on their own opinions that call writers are confident on 5200 will act as support for this expiry and put writers are confident on 5400 could act as a resistance zone for this expiry at this instance.
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 Options Open Interest Update for September Option Series
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