Nifty May Futures ended at seven points discount at 4239 on Wednesday. The May series shed 7.16 shares in open interest (OI). June futures added 5.99 shares in OI.On the index options front, total OI in Calls dropped 2.92 lakh shares to 145.56 lakh, of which, OI at 4100 May Call was down at 27.52 lakh (18.9%); OI at 4200 Call increased to 18.57 lakh (12.7%), and OI at 4250 Call increased to 14.45 lakh. OI at 4000 Call was down at 11.60 lakh. The May 4300 Call OI went up to 11.30.In the June series, OI in 4200 Call rose to 10 lakh, and OI in 4300 increased to 9.59 lakh. On the other hand, total OI in Puts was marginally up by 3100 shares to 218.33 lakh, of which, OI at May 4100 Put further dropped to 32.62 lakh. OI for Nifty 4000 Put was down to 27.85 lakh and OI for 4200 Put went up to 22.25 lakh. OI for 4150 Put was down at 15.64 lakh. OI at 3800 and 3900 Put stood around 15.60 lakh and 13.80 lakh.The June series 4200, 4100 and 4000 Puts have seen rise in OI at around 14.71 lakh, 12.73 lakh and 12.10 lakh shares, respectively.Yesterday's we saw cut in open interest in 4100 and 4200 Call, while marginal rise in open interest at 4250 levels. Meanwhile, OI in 4100 and 4000 Puts went down, while the OI in 4200 Put rose. This suggests, the Nifty may look to find support around 4200 level before the next move. The Nifty OI Put-Call ratio was up at 1.50.
