Nifty higher open interest shifts from 4900PE to 4700PE. Sell signal holds in all the time frames but still PE writers are confident of holding 4700 as a support zone.
One thing should be noted cautiously initially put option writers build higher open interest in 4800PE later they shifted building Open interest on 4900PE and now they are building on 4700PE strike prices. which indicates that 4800PE and 4900PE are written for shorter term.
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