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If the expiry is near than the market may stay range bound between these two levels.Anil Singhvi's strategy on Nifty50 and Bank Nifty on August 22, 2022 Similarly if huge open interest is build for 11400 calls it will be seen as major resistance zone. Keeping in view that most institutional investors write options rather than buy, the data helps to understand mood of ‘intelligent money’. if 11000PE has highest open interest, traders perceive it as important support for the current expiry. Open Interest data can give very useful clues to determine Support and Resistance. Open Interest to determine Support and Resistance for Bank Nifty: Intelligent traders understand that even though OI is a very crucial ‘market indicator’, it should be combined with other technical indicators to get good results. Combining interpretations from Open Interest (OI) and change in OI can give meaning results. It is very important for option traders to understand the relation between open interest and market direction. Open Interest analysis can provide very useful insights pertaining market trend and support / resistance. Interpretation of Bank Nifty Open Interest charts to understand Market Trend: