Open Interest Analysis

[Jayakumar.int]

Nifty 11692(+135) BankNifty 28264(+430)

Nifty futures open Interest(combined three months) increased by +2.2% as longs got added. Nifty(spot) broke above its recent high of 11621 and hit 11700, current momentum may stay intact above 11550 levels, it may move towards 11750-11770 levels.

OI in BankNifty declined by -3.6% indicating wind up of short positions. BankNifty(spot) had a gap up opening above 27950 levels and it may stay with bullishness above this level, it may strengthen if breaks and holds above its last week high of 28325.

 

[Jayakumar.int]

Nifty 11739(+47) BankNifty 28270(+5)

Nifty futures open Interest(combined three months) declined by -1.8% indicating wind up of short positions. Nifty(spot) continued with its bullishness hitting new lifetime highs, current trend may stay intact as above 11600 levels.

OI in BankNifty stayed flat as there was no fresh addition of positions. BankNifty(spot) may stay with positive bias above 27950 levels, may gain further if breaks and holds above 28350 levels.

 

[Jayakumar.int]

Nifty 11692(-47) BankNifty 28224(-46)

Nifty futures open Interest(combined three months) stayed flat without any fresh additions. Technically, Nifty(spot) would consolidate in the range of 11590-11750, current trend may change only if closes below 11590.

OI in BankNifty went up by +8.7% indicating addition of fresh long positions. BankNifty(spot) would continue to stay with positive bias as long as it holds above its 21day moving average of 27974.

 

[Jayakumar.int]

Nifty 11677(-15) BankNifty 28103(-121)

Nifty futures open Interest(combined three months) went up by +2.2% indicating addition of fresh long positions. Technically, Nifty(spot) would stay in the range of 11590-11750, may consolidate in this level.

OI in BankNifty increased by +5.9% as fresh longs got added. BankNifty(spot) had been in the range of 27950-28350, any break in this range would set the next trend.

 

[Jayakumar.int]

Nifty 11681(+4) BankNifty 28062(-42)

Nifty futures open Interest increased by +6.5% indicating addition of fresh long positions. Nifty(spot) would try to break above its recent high of 11760 once it holds above 11700 levels, better GDP numbers may keep the positive sentiment intact.

OI in BankNifty declined by -2.9% as shorts got wind up. Technically, BankNifty(spot) may stay with positive bias above 27950, but for an significant upside it has to close above 28350.

 

[Jayakumar.int]

Nifty 11582(-98) BankNifty 27820(-242)

Nifty futures open Interest stayed flat almost flat irrespective of around 100 points fall in Nifty. Technically, Nifty(spot) has weakened on a close below 11590, if holds below then it can slip towards 11500-11470 levels.

OI in BankNifty went up by +4.4% indicating addition of Short positions. BankNifty(spot) slipped below its support of 27950, any subsequent stay below this level may drag it towards 27700-27600 levels.

 

[Jayakumar.int]

Nifty 11520(-62) BankNifty 27431(-389)

Nifty futures open Interest stayed flat for the second straight session as no fresh positions are added. Technically, Nifty(spot) closed around its 21day moving average of 11523, if continued to hold below then it can head towards 11400 levels. On the other hand, if bounces from its 21DMA then 11630 would be the resistance.

OI in BankNifty went up further by +3.5% indicating addition of fresh short positions. BankNifty(spot) had weakened below 27950, may head towards its 50day moving average of 27355.

 

[Riskyman]

Nice job JayaKumar.

 

[Jayakumar.int]

Nifty 11477(-43) BankNifty 27376(-55)

Nifty futures open Interest increased by +5.4% indicating addition of fresh long positions. Technically, Nifty(spot) would find resistance around its 21day moving average of 11528, only a break and hold above this level would take it towards resistance of 11590.

OI in BankNity declined by -6.9% as shorts got wind up at lower levels. BankNifty(spot) closed around its 50DMA of 27371, if took support around this level then it can bounce towards its resistance of 27530-27590 levels.

 

[Jayakumar.int]

Nifty 11537(+60) BankNifty 27469(+93)

Nifty futures open Interest increased by +3.2% indicating addition of fresh long positions. Technically, Nifty(spot) settled around its 21DMA of 11535, if manages to hold above in the next session then it can move towards 11590-11620 levels, on the other hand if struggles to stay above its 21DMA then it can slip towards 11450-11400 levels.

OI in BankNifty continued to decline -8% as shorts got wind up. BankNifty(spot) managed to hold above its 50DMA of 27388 amidst volatility and this level would act as a support, if holds above then it can bounce till 27600-27650 levels.