Open Interest Analysis

[Jayakumar.int]

Nifty 10651(+19) BankNifty 25661(+44)

Nifty futures open interest was almost flat +0.2% with Nifty gaining marginally indicating Longs are holding their positions. Technically, Nifty(spot) closed near to its resistance of 10660, if breaks and holds then it can move towards 10695-10720 levels. On the downside, 10580 would be the nearby support level.

OI in BankNifty declined marginally by -1.7%, indicating Short covering. Technically, BankNifty(spot) continue to locked in the same trading range of 25400-25800 for the last few sessions, market data such as IIP and Inflation would influence the next major move in BankNifty.

 

[Jayakumar.int]

Nifty futures open interest went up marginally by +0.8% indicating addition of long positions. Technically, Nifty(spot) continue to stay bullish with resistance at 10720-10750 levels. On the downside, 10590 and 10550 woold be the nearby support levels.

OI in BankNifty went up by a huge +11.8% indicating fresh long positions. Technically, BankNifty(spot) may gain further strength once it breaks and holds above 25800 levels then it can aim for 26000-26100 levels.

 

[Jayakumar.int]

Nifty 10742(+60) BankNifty 26069(+320)

Nifty futures open interest increased by +3.6% indicating addition of long positions. Technically, Nifty(spot) would stay with bullish above the support of 10650 levels, resistance would be at 10780-10820.

BankNifty OI went by a huge +18.4% indicating fresh long positions as BankNifty broke and closed above 25800 levels. Technically, BankNifty(spot) is heading towards 26300-26400 levels.

 

[timepass]

Nifty 10742(+60) BankNifty 26069(+320)

Nifty futures open interest increased by +3.6% indicating addition of long positions. Technically, Nifty(spot) would stay with bullish above the support of 10650 levels, resistance would be at 10780-10820.

BankNifty OI went by a huge +18.4% indicating fresh long positions as BankNifty broke and closed above 25800 levels. Technically, BankNifty(spot) is heading towards 26300-26400 levels.
View attachment 23790

Superb pictorial representation. Keep it up !!

 

[Jayakumar.int]

Nifty 10700(-41) BankNifty 25975(-94)

Nifty futures open interest marginally increased by +0.8% with fall in Nifty indicating addition of marginal Short position at higher levels. Technically, Nifty(spot) would weaken only below 10590 levels, on the higher side 10760-10790 would be resistance levels.

OI in BankNifty declined by -8.2% indicating unwinding of long positions. Technically, BankNifty spot would stay bullish above 25800 levels, resistance would be above 26150-26250 levels.

 

[Jayakumar.int]

Nifty 10789(+88) BankNifty 26289(+314)

Nifty futures open interest went up by +2.5% indicating fresh longs as Nifty closed at its lifetime high. Technically, Nifty(spot) would stay bullish above 10650 with resistance at 10840-10870 levels.

OI in BankNifty increased by +4.8% as Fresh longs are added, BankNifty(spot) may remain bullish above 25900 levels, with resistance at 26450-26500 levels.

 

[Jayakumar.int]

Nifty 10817(+28) BankNifty 26537(+248)

Nifty futures open Interest remained flat without any change as volatility increased at higher levels. Technically Nifty(spot) may stay in the range of 10750-10900 levels.

OI in BankNifty was down marginally by -0.6%, as BankNifty(spot) settled down more than 300 points from its day’s high it can be a marginal Long unwinding(not significant). Technically, BankNifty(spot) may stay strong above 26000 levels.

 

[Jayakumar.int]

Nifty 10895(+78) BankNifty 26910(+372)

Nifty futures open interest remained almost flat for the second straight session, indicating longs are yet to cover their position. Technically, Nifty(spot) would stay with positive bias above 10770 levels with resistance at 10970-11000 levels.

OI in BankNifty went up by +4% indicating addition of fresh long position. Technically, BankNifty(spot) would stay bullish above 26350 levels with resistance above 27250-27300 levels.

 

[Jayakumar.int]

Nifty 10968(+72) BankNifty 27041(+132)

Nifty futures open interest(combined three months) went up by +2.2% indicating Longs are being rolled over to February contract. Market momentum continue to be positive with Nifty inching towards 11000. Technically, Nifty(spot) looks bullish above 10770, resistance would be around 11020-11050 levels.

OI in BankNifty increased by +5.2% as Longs are rolled over to next month contract. Technically, BankNifty(spot) remains strong above 26650 with resistance above 27250-27350 levels.

 

[Jayakumar.int]

Nifty 11084(+118) BankNifty 27391(+349)

Nifty futures open interest(combined three months) increased by +3.4% as Long positions continued to be rolled over. Nifty(spot) settled above the psychological levels of 11000. Technically, Nifty(spot) would stay with bullish bias above 10970 with resistance at 11130-11150 levels.

OI in BankNifty went up by +8.4% as key banking stocks gained momentum. Technically, BankNifty(spot) would stay strong above 26900 levels with resistance at 27500-27600.