We've seen highest OI build up on 6300CE @ 30.8 lakhs followed by 6100CE @ 11.2 lakhs & 6200CE @ 5.7 lakhs.
So, 6300 remains resistance for now.
At the same time, 6000PE is having highest OI @ 49.8 lakhs, so base support at the start of the Feb series, followed by 5800 & 5900 @ 15.6 lakhs & 6000-6500 PE @ 14.7 lakhs & 6100PE @ 5.2 lakhs
Interesting find in the Option Chain Data is a far OTM 5500PE with a 35 paise fall in price, having an OI of 13.9 lakhs and an addition of 9.69 lakhs to the OI.
Decrease in Price with Increase in Open Interest as the Rule implies the OTM Put has been Shorted heavily..... Hedging positions built by an FII probably to safeguard the To Be Created Longs in the Series and eat on the premium.
Some volatile movements are indeed expected in the upcoming series.