Yeah seems like that.
Already heard about COI being at its highest for both the indices.
3 potential implications of a high/rising OI.
Not quite sure which one applies in the current NIFTY BANK scenario… 
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With massive correction of 4000 points in 6 days, rise in OI before the local event most likely meant short covering. (which it rightly gave - 3000 points in 2.5 days)
In hindsight, The way i see it, We can generally expect a trend changing move with rise in OI if the rise is at the fag end of the correction/rise due to the following 4 factors :
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Time of the rise of OI
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Positioning by biggies
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How Close it is to the expiry
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Risk reward in the ongoing move.
Hang Seng Tech Index is plunging non stop
Hang Seng tech index is down 9% today on fears of tensions btwn US & China (Delisting in US, Chinese policy uncertainty, Sanction fears for supporting russia? )
The chart that I shared is of Hang seng tech index . This is hang seng
Source : Alessio urban’s twitter
Japanese yen and most of the asian currencies (South korean won, malaysian ringgit ) are breaching levels reached in 1998 during asian financial crisis.
keep an eye on bond market as BOJ (Bank of Japan) is one of the biggest buyers. they may be forced to dump bonds going forward.
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Super excited to see BYD launch new models in India. Great stuff. Competition is great to push weak automotive manufactures out of their game.
Japan has had increasing labor force participation? Intresting.
All the balance sheet shrinking of last one year gone for a toss. Nearly 50% of the whole shrinkage => 300 billion dollars added to fed’s balance sheet last week.
Worked as a tool for stabilizing markets in the short run. But it’s at best like a paracetamol when there is cancer lurking behind