You cant conclude based on IV increase or decrease or open interest increased or decreased. you need to view the following parameter to understand the position better.
1. Correlation with Index and Vix
2. Correlation with Implied Volatility
3. Option Chain
4. Position On Chart
5. Volume Candle
6. Market Sentiment ( FII Sentiment)
7. Awaiting for Exit Poll Result Nifty may High Volatile
8. Premium Decay
As this week is news based week we can see both side movement.