Open Interest Analysis

Jayakumar.int

Well-Known Member
Nifty 10700(+43) BankNifty 26204(-26)

Nifty futures open interest increased by +2.6% as fresh longs got added. Technically, Nifty(spot) settled at 10700, if breaks and holds above 10730 then it can test its resistance of 10770-10790 levels.

OI in BankNifty went up by +5.2% indicating addition of fresh short positions. Short term trend would stay weak below 26400 for BankNifty(spot), it may test the support of 26000.

jul 03.png
 

Jayakumar.int

Well-Known Member
Nifty 10770(+70) BankNifty 26434(+230)

Nifty futures open interest increased by +4.2% indicating further addition of long positions. Technically, Nifty(spot) would stay with positive bias above 10730 levels , may move towards is next resistance of 10820-10840 levels.

OI in BankNifty went up by +5.4% as fresh long positions got added. Technically, BankNifty(spot) closed above its resistance of 26400 levels, if stays above then it can move towards 26600-26700 levels.
jul 04.png
 

Jayakumar.int

Well-Known Member
Nifty 10750(-20) BankNifty 26503(+69)

Nifty futures open interest stayed almost flat in the last session. Nifty(spot) would stay with positive bias above 10700 levels may move towards 10800-10830 levels.

OI in BankNifty declined by -3.9% indicating windup of short positions. Technically, BankNifty(spot) would stay positive above 26350 levels.
jul 05.png
 

Jayakumar.int

Well-Known Member
Nifty 10773(+23) BankNifty 26494(-9)

Nifty futures open interest increased by +1.5% as fresh longs got added. Technically, Nifty(spot) has to close above 10830 for any significant upside from current levels. On the downside, 10700 would be the near by support level.

OI in BankNifty declined by -1.9% indicating unwinding of long positions. Technically, BankNifty(spot) may consolidate in the range of 26200-26600 for the next few sessions.

jul 06.png

General Info:
There’s a correlation between IndiaVix and Nifty i.e. if IndiaVix goes down then market moves up likewise if IndiaVix goes up then market goes down , by tracking these correlation we can judge where market is heading in the short and medium term. Current trend indicates market would stay firm with positive bias in short term as long as IndiaVix stays below 14.
indiavix jul 6.png
 

Jayakumar.int

Well-Known Member
Nifty 10853(+80) BankNifty 26753(+259)

Nifty futures open Interest increased by +4.7% as fresh longs got added. Technically, Nifty(spot) had closed above its resistance of 10830-10850 levels, it may stay with positive bias above 10790 would move towards 10900-10930 levels.

OI in BankNifty went up by +10.3% indicating addition of huge long positions. Technically, BankNifty(spot) would gain further strength on a break above 26800 may head towards 27000-27100 levels.

jul 09.png
 
Nifty 10947(+94) BankNifty 26895(+141)

Nifty futures open interest increased by +4.1% as fresh long positions got added. Technically, Nifty(spot) may continue to stay with positive bias above 10850 levels may move towards the psychological level of 11000.

OI in BankNifty continued to rise further by +9.9% indicating addition of long positions. Technically, BankNifty(spot) if stayed above 26800 then it can break 27000 to test 27150-27250 levels.

jul 10.png
 
Nifty 10948(+1) BankNifty 26816(-78)

Nifty futures open interest increased by +3.2% indicating addition of fresh short positions. Technically, Nifty(spot) may face resistance around 10970-10990 levels, but would continue to stay with positive bias above 10850.

OI in BankNifty went down by -6.9% as long positions got windup. Technically, BankNifty(spot) closed marginally above its support of 26800, any break and stay below may drag it towards 26650-26600 levels.
jul 11.png
 
Nifty 10948(+1) BankNifty 26816(-78)

Nifty futures open interest increased by +3.2% indicating addition of fresh short positions. Technically, Nifty(spot) may face resistance around 10970-10990 levels, but would continue to stay with positive bias above 10850.

OI in BankNifty went down by -6.9% as long positions got windup. Technically, BankNifty(spot) closed marginally above its support of 26800, any break and stay below may drag it towards 26650-26600 levels.
View attachment 26529
Nifty futures open interest increased by +3.2% indicating addition of fresh short positions.

Thanks for these updates Jayakumar. Could you please elaborate why you consider this complete +3.15% new OI addition as Fresh Shorts, as the price change is very minimal and it might be the case of addition of Fresh Longs as well ?
Or if I am missing something ?

Please continue this great work. Best wishes for your trading.

Regards
 
Nifty futures open interest increased by +3.2% indicating addition of fresh short positions.

Thanks for these updates Jayakumar. Could you please elaborate why you consider this complete +3.15% new OI addition as Fresh Shorts, as the price change is very minimal and it might be the case of addition of Fresh Longs as well ?
Or if I am missing something ?

Please continue this great work. Best wishes for your trading.

Regards
Dear Sir,

You have to take into consideration the last 45mins of trade if index closes flat. In yesterday's scenario it was flat closing and BankNifty too was not supportive so i took it as short. Today also same scenario closing weak, but close on close its up by +75 points so i have taken as long.
 
Nifty 11023(+75) BankNifty 27027(+210)

Nifty futures open interest increased by +3.5% indicating addition of fresh long positions. Technically, Nifty(spot) closed above its psychological level of 11000, if holds above 10950 then it can move above 11100 levels.

OI in BankNifty stayed flat as no fresh position got added. BankNifty(spot) would stay with positive bias above 26800 levels with resistance at 27300-27400.
jul 12.png
 

Similar threads

Trade in Rs 20, No more % brokerage

Name:Phone:
Email:City:
State:
Are you a day trader?