This chart depicts the change in open interest of Nifty Option table with Nifty spot movement. It is very easy to use this tool. Select the strike-price from the dropdown box and you will see the OI trend for 1 month.
There may be sudden ups and downs in the chart due to expiry.
Open Interest is a very useful tool for analysts and market technicians to gauge the sentiment of market participants.
Trend Analysis is a tool to understand and analyse trends.