Open Interest Analysis

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Nifty 10411 (-16) BankNifty 24852(+113)

Nifty futures open Interest remained flat as it exhibited high volatility in the last session. Technically, Nifty(spot) would stay in the range of 10350-10500, may once again test the resistance of 10500 if holds above 10350.

OI in BankNifty went up by +6.1% indicating addition of Fresh long positions. Technically, BankNifty(spot) may stay with positive bias above the support of 24550 may head towards 25100-25180 levels.

 

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Nifty 10360 (-51) BankNifty 24792(-60)

Nifty futures open Interest increased by +3% indicating addition of fresh Short positions. In the last two sessions Nifty(spot) failed to move above 10430 and this would act as the nearby resistance any break and stay below 10350 may take Nifty towards 10280 levels.

OI in BankNifty declined by -4.8% indicating wind of Long positions as BankNifty(spot) failed to hold at higher levels. Technically, it may stay weak below 25000 and move towards 24400-24350 levels.

 

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Nifty 10195 (-165) BankNifty 24490(-302)

Nifty futures open Interest increased by +3.9% indicating further addition of Short positions. Technically, Nifty(spot) has weakened below 10300 levels may head towards 10150 and 10120.

OI in BankNifty futures increased by a huge +11.8% as new short positions got added. Technically, BankNifty(spot) may stay weak below its 200day average of 24820, can re-test its recent lows of 24100-24050 levels.

 

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Nifty 10094 (-101) BankNifty 24245(-244)

Nifty futures open Interest declined by -3.2% indicating wind up of some short positions at lower levels. Technically, Nifty(spot) would stay weak below its 200day moving average of 10160, a stay below may drag Nifty towards 10050-10030 levels.

OI in BankNifty went up further by +4.5% with addition of Short positions. Technically, it may stay weak below 24500 with support at 24000-23900.

 

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Nifty 10124 (+30) BankNifty 24168(-77)

Nifty futures open Interest stayed flat (+0.3%) as it recovered from its lows amidst volatility. Technically, Nifty(spot) may bounce towards 10250-10270 if holds above 10050 levels.

OI in BanknNifty declined by -5.4% indicating wind up short positions as it held strongly above 24000 levels, may bounce towards 24500-24550 levels.

 

[Jayakumar.int]

Nifty 10155 (+31) BankNifty 24256(+87)

Nifty futures open Interest remained almost flat for the second straight session as volatility increased. Technically, Nifty(spot) closed marginally below its 200day moving average of 10169, any break and stay below 10130 may once again drag it towards its recent low of 10050. On the upside, it has to hold above 10200 for any further gains.

OI in BankNifty declined by -4.1% indicating wind up of short positions as BankNifty(spot) managed to stay positive amidst volatility. Technically, for a further fall it has to break and hold below 24000 levels.

 

[Jayakumar.int]

Nifty 10115 (-41) BankNifty 24142(-114)

Nifty futures open Interest stayed almost flat as Nifty traded in a narrow for the last few sessions. Technically, Nifty(spot) had weakened as it failed to hold above its 200day moving average of 10170 may head towards its recent lows of 10050-10030 levels.

OI in BankNifty went up by +7% indicating addition of Short positions. Technically, BankNifty(spot) would stay weak below 24400 levels may head towards 23900-23800 levels.

 

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Nifty 9998 (-117) BankNifty 23670(-471)

Nifty futures open Interest(combined three months) declined marginally by -0.6% as Shorts got wind up ahead of March contract Expiry. As per new contract of April, traders are yet to build any new positions. Technically, Nifty(spot) may weaken further on a break and stay below 9960 levels.

OI in BankNifty futures declined by -2.6% as Shorts got wind up at lower levels. Technically, BankNifty(spot) may stay weak below 24000 with support at 23500-23450 levels.

 

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Nifty 10131 (+133) BankNifty 24244(+574)

Nifty futures open Interest(combined three months) declined by -1.7% indicating wind up of Short positions. Technically, Nifty(spot) had filled the gap in candlestick chart that had formed on Friday’s session due to gap down opening. Nifty(spot) on a stay above 10050 may head towards 10170-10200 levels.

OI in BankNifty declined by a massive -9% as there was heavy Short covering in the last session. Technically, BankNifty(spot) may stay with positive bias above 24000 levels may head towards 24500-24550 levels.

 

[Jayakumar.int]

Nifty 10184 (+53) BankNifty 24434(+190)

Nifty futures open Interest(combined three months) increased by +2.2% indicating addition of fresh long positions. Technically, Nifty(spot) may gain further and head towards 10270-10300 levels if holds above 10130, at the same time volatility may increase on back of March contract expiry and long weekend.

OI in BankNifty increased by +4.2% indicating addition of Long positions. BankNifty(spot) would stay with positive bias above 24000 levels, may gain further strength above 24500 to move towards 24800.