Nifty futures OI at lowest since Nov 2023; what does this indicate?

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Nifty futures OI at lowest since Nov 2023; what does this indicate? - Business Standard

Quick Summary:

Derivatives market update: The current low open interest in Nifty implies signs of profit booking rather than fresh short position, believes James Kunnel, Derivatives Analyst at Asit C Mehta.

While rollover figures at 73 per cent are not uncommon, the current OI at 115 lakh shares is lowest starting Open Interest in Nifty since November 2023.

The Nifty futures started the November series with record low rollovers amid the recent market sell-off.