Nifty futures open interest remained low near 1 crore shares and only marginal additions of long positions were seen last week. With subdued OI, a sharp move seems unlikely. On the other hand, banking space has seen significant long accumulation which has been the driver of recent up move in Nifty.
Nifty has been in a consolidation zone for over a month and we may soon see a breakout or breakdown with the former. However, for