Open Interest Analysis

Nifty 10724(-22) BankNifty 26794(-176)

Nifty futures open Interest stayed flat for the session indicating no addition of fresh positions. Nifty(spot) managed to close above its 100day moving average of 10695, there is possibility that Nifty may bounce back towards 10820-10850 levels if it happens to hold above 10695.

OI in BankNifty went up by +8.9% as fresh shorts got added. BankNifty(spot) would stay with negative bias below 27050 levels, it may re-test its 200DMA of 26600 levels. On the upside, it has to close above 27050 for the current trend to change.

OI Feb 18.png
 
Nifty 10641(-83) BankNifty 26654(-140)

Nifty futures open Interest increased by +3.1% as further short positions got added. Nifty(spot) failed to hold above its 100day moving average of 10691 indicating weakness, it may head towards 10590-10550 levels.

OI in BankNifty went up by +2.3% indicating addition of short positions. BankNifty(spot) closed around its crucial 200DMA of 26608, any break and stay below this level may drag BankNifty towards 26450-26400 levels.

OI Feb 19.png
 
Nifty 10604(-37) BankNifty 26685(+31)

Nifty futures open Interest stayed almost flat for the session as no fresh positions got added. Nifty(spot) continue to stay below its 100day moving average of 10687, it may test its support of 10550-10500 levels.

OI in BankNifty declined by -5.1% indicating wind-up of long positions. BankNifty(spot) had taken support around its 200DMA of 26613 in the last few sessions, may weaken further once broke below this level can move towards 26400-26450 range.

OI Feb 20.png
 
Nifty 10735(+131) BankNifty 26956(+271)

Nifty futures open Interest declined by -1% indicating windup of short positions. Nifty(spot) bounced back from its lows to close above its 21day moving average, it can test its resistance of 10800-10850 where its cluster of moving averages such as 21, 50 and 200DMA resides.

OI in BankNifty decreased by -9% as Short positions got unwinded. BankNifty(spot) after taking support around its 200DMA bounced towards 27000 levels, it has to close above 27050 levels for any significant upside.

OI Feb 21.png
 
Nifty 10790(+54) BankNifty 27052(+97)

Nifty futures open Interest decreased by -3.6% as short positions got unwinded. Nifty(spot) moved towards its resistance of 10800-10850 levels, it has to close above 10860 for further upward movement.

OI in BankNifty declined by -11.4% indicating short unwinding. BankNifty(spot) closed near to its resistance of 27050, if manages to hold above this level then it can move towards 27150-27250 levels.

OI Feb 22.png
 
Nifty 10792(+2) BankNifty 26868(-185)

Nifty futures open Interest(combined three months) declined by -1.7% indicating wind up of short positions.Nifty(spot) found resistance above 10800 levels if breaks and holds above then it can move towards its 200day moving average of 10861. On the downside, 10720 would be the near by support level.

OI in BankNifty increased by +7.3% as fresh shorts got added. BankNifty(spot) would stay with negative bias as long as holds below 27050, near by support levels would be 26750-26700.

OI Feb 25.png
 
Nifty 10880(+88) BankNifty 27159(+292)

Nifty futures open Interest increased by +1.1% as fresh longs got added. Nifty(spot) closed above its resistance of 100861(200DMA), it may stay with positive bias above 10780 and move towards its next resistance of 10930-10950 levels.

OI in BankNifty declined by -1% indicating wind-up of Short positions. BankNifty(spot) settled above its resistance of 27050, it may strengthen further on a stay above 27050 can move towards 27300-27350 levels.

OI Feb 26.png
 
Nifty 10835(-45) BankNifty 26953(-206)

Nifty futures open Interest declined by -3.7% indicating wind-up of long positions. Nifty(spot) amidst volatility managed to stay above 10800 levels, it may stay with positive bias as long as it holds above last session's low of 10729.

OI in BankNifty decreased by -7.1% as longs got unwinded. BankNifty(spot) has to close below its last session low of 26736 to weaken further from current levels, on the upside would strengthen above 27050.

OI Feb 27.png
 
Nifty 10807(-29) BankNifty 26799(-154)

Nifty futures open Interest(combined three months) increased marginally by +1.2% as fresh longs got added. Nifty(spot) would stay with negative bias below 10900, may weaken further on a close below 10700.

OI in BankNifty went up by +6.8% indicating addition of fresh Shorts. Banknifty(spot) would stay weak below 27050 and move towards 26650-26550 levels.

OI Feb 28.png
 
Nifty 10792(-14) BankNifty 26790(-9)

Nifty futures open Interest(combined three months) went up by +6.5% as Short positions got rolled over to March Contract. Nifty(spot) would stay neutral in the range of 10900-10750, any close beyond this trading range would set the next trend.

OI in BankNifty increased by +4.5% indicating rollover of short positions. BankNifty(spot) would stay with negative bias below 27050 levels can move towards 26647 where its 200DMA resides.

OI Mar 01.png
 

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