Open Interest Analysis

[Jayakumar.int]

Nifty 10864(+71) BankNifty 27044(+254)

Nifty futures open Interest stayed flat as no fresh position got added. Nifty(spot) closed near to its 200DMA of 10862, if breaks and holds above then it can test its next resistance of 10930-10950 levels.

OI in BankNifty increased by +22% as fresh longs got added to March contract. BankNifty(spot) closed around its resistance of 27050 may gain further strength if happens to break and hold above its 50DMA of 27131.

 

[Jayakumar.int]

Nifty 10987(+124) BankNifty 27554(+510)

Nifty futures open Interest increased by +1.3% indicating addition of fresh longs. Nifty(spot) closed above its resistance of 10950, it may strengthen further on a subsequent stay above this level can move towards 11050-11080 levels.

OI in BankNifty went up by +24% as huge longs got added. BankNifty(spot) would stay with positive bias above 27200 levels can move towards its next resistance of 27700-27750 levels.

 

[Jayakumar.int]

Nifty 11053(+66) BankNifty 27626(+72)

Nifty futures open Interest went up by +1.9% as fresh longs got added. Nifty(spot) would continue to stay with positive bias above 10950, it may find resistance around its last month's high of 11100-11120 levels.

OI in BankNifty went up by +3.6% indicating addition of fresh long positions. BankNifty(spot) may find resistance around 27700-27750 levels, current trend may stay positive as long as it holds above 27300.

 

[Jayakumar.int]

Nifty 11058(+5) BankNifty 27765(+139)

Nifty futures open Interest stayed almost flat in the last session as no fresh position got added. Nifty(spot) faced resistance at higher levels, if failed to move above 11100-11120 levels then it may slip towards 10960-11000 range.

OI in BankNifty went up by a huge +12.6% indicating addition of fresh longs. BankNifty(spot) would strengthen further if manages to hold above 27750 levels, then it may move towards 27900-28000 levels.

 

[Jayakumar.int]

Nifty 11035(-23) BankNifty 27762(-3)

Nifty futures open Interest stayed flat for the second straight session as no significant positions got added. Nifty(spot) would find resistance above 11100 levels, only a close above its last month high of 11118 would enable Nifty to gain further. On the downside,10950-10930 would be the near by support level.

OI in BankNifty stayed flat in the last session indicating no addition of fresh positions. BankNifty(spot) continue to stay near to its resistance of 27750 levels, any subsequent stay above this level in the next few sessions may take BankNifty towards 27900-28000 levels.

 

[Jayakumar.int]

Nifty 11176(+141) BankNifty 27969(+207)

Nifty futures open Interest went up by +6.3% indicating addition of fresh longs. Nifty(spot) closed above its February high of 11118, it would stay with positive bias as long as Nifty holds above 11118, can move towards 11240-11280 levels.

OI in BankNifty stayed flat for the second straight session as there was no addition of fresh positions. BankNifty(spot) would stay with positive bias above 27700 levels can test its all time high of 28350-28400 levels.

 

[Jayakumar.int]

Nifty 11301(+133) BankNifty 28444(+477)

Nifty futures open Interest went up further by +9.3% as fresh longs got added. Nifty(spot) had gained strength once it broke above 11120 levels, it may move further towards 11400-11500 range.

OI in BankNifty increased by +18.6% indicating addition of huge longs. BankNifty(spot) closed above its all time high of 28389, current positive trend may continue and take BankNifty(spot) towards 28600-28700 levels.

 

[Jayakumar.int]

Nifty 11342(+41) BankNifty 28884(+441)

Nifty futures open Interest continued to rise +6.6% for the third straight day as fresh longs got added. Nifty(spot) would face resistance around 11400 levels there's possibility that it may consolidate at higher levels before moving up further.

OI in BankNifty stayed almost flat for the session indicating no significant addition of fresh positions. BankNifty(spot) hit its new life time high of 28928, there may be resistance around 29000-29050 levels as BankNifty(spot) is entering into over bought zone.

 

[Jayakumar.int]

Nifty 11343(+1) BankNifty 28923(+39)

Nifty futures open Interest after rising continuously and stayed almost flat in the last session. Nifty(spot) faced resistance at higher levels, it may consolidate in the range of 11250-11400 levels.

OI in BankNifty declined marginally by-1.5% indicating wind-up of long positions. BankNifty(spot) after gaining 2000 points in the last eight sessions, faced resistance around 29000 levels, would consolidate in the range of 28600-29050 levels.

 

[columbus]

Nifty gained 550 points in this series so far and Banknifty gained 1670 points so far in this series (all days) except for 5th day of series (Friday.8th Mar). Looks like Nifty & Bank nifty are a bit TIRED.