Nifty May Futures ended at seven points premium to spot at 4141 on Monday. The May series saw a drop in open interest (OI) of around 10.60 lakh shares. June futures saw addition of 81,300 shares in OI.On the index options front, the Nifty May 4100 Call has seen build-up of 27.3% of the total open interest in Calls. Total OI in Calls increased to 132.27 lakh, of which, OI at 4100 May Call was 36.12 lakh; OI at 4200 Call was 29.05 lakh (22%), and OI at 4000 Call was 13.98 lakh (10.5%). OI at 4250 Call was 12.90 lakh.On the other hand, the Nifty May 4000 Put accounted for 23.4% concentration of the total OI in Puts. The total OI in Puts rose to 160.12 lakh, of which, OI at May 4000 Put was 37.42 lakh. OI for Nifty 4100 Put stood at 29.90 lakh (18.7%) and OI for 3800 and 3900 Put was around 15.69 lakh and 15.44 lakh shares, respectively. OI at 4150 Put was 11.19 lakh.Concentration of nearly 32% open interest at 4200 and 4250 Calls suggest that the Nifty could face stiff resistance around these levels during the May series. At the same time, 4100 level could act as an support owing to concentration of nearly 19% OI at that level.The Nifty OI Put-Call ratio rose to 1.21.
