Open Interest in March Futures has come down today by 3.45%. OI stands at 16.07 million against 16.53 million on 4th March, when Nifty touched the low of 5663. Is it pointing towards liquidation of the longs created last week?
Another interesting development is the extreme change in OI of 5600PE, it is bursting at seams with 40% jump in OI. Very unusual activity for such a far out of money strike.