Open Interest Analysis

Jayakumar.int

Well-Known Member
Nifty 11672(+68) BankNifty 30114(+269)

Nifty futures open Interest increased by +1.1% as fresh longs got added. Nifty(spot) managed to hold above its support of 11550 in the last few sessions, it may move towards its upside of the range of 11550-11750.

OI in BankNifty stayed flat in the last session as no fresh position got added. BankNifty(spot) bounced around its 21DMA of 29673, it may test its near by resistance of 30250-30350 levels.

OI Apr 10.png
 
Nifty 11584(-88) BankNifty 29803(-311)

Nifty futures open Interest decreased by -1.2% indicating wind-up of long positions. Nifty(spot) closed marginally above its support of 11550, it has tested this level for the last few sessions, Nifty's 21DMA resides at 11524, so 11550-11520 range would be the crucial support any close below this level may weaken Nifty further.

OI in BankNifty decreased by -1.2% as longs got unwinded. BankNifty(spot) closed near to its 21DMA of 29760, on a break and stay below this level may weaken it further to move towards 29500-29400 levels.

OI Apr 11.png
 
Nifty 11597(+13) BankNifty 29786(-17)

Nifty futures open Interest declined by -2.3% as shorts got unwinded. Nifty(spot) had been in a narrow range of 11550-11650 in the last few sessions, it may stay neutral in this range.

OI in BankNifty decreased by -8.7% indicating unwinding of long positions. BankNifty(spot) closed below its 21DMA of 29824, if continues to stay below this level then it may slip towards 29550-29450. On the upside, it has to break and hold above 30000 for any significant upward movement.

OI Apr 12.png
 
Nifty 11643(+46) BankNifty 29939(+153)

Nifty futures open Interest declined by -1.6% indicating winding up of Short positions. Nifty(spot) managed to hold above its crucial support of 11550 levels, in the next few sessions if stays above 11600 then it can move towards 11690-11740 levels.

OI in BankNifty went up by +8.4% as fresh longs got added. BankNifty(spot) has taken support around its 21DMA, any subsequent stay above this level may take it towards 30200-30350 levels.

OI Apr 15.png
 
Nifty 11690(+47) BankNifty 30104(+165)

Nifty futures open Interest increased by +2.8% indicating addition of fresh longs. Nifty(spot) would stay with positive bias above 11550 levels may move towards 11730-11750 levels.

OI in BankNifty went up by +1.8% as fresh longs got added. BankNifty(spot) would stay bullish above 29900 levels can test its next resistance of 30250-30350 levels.

OI Apr 16.png
 
Nifty 11787(+97) BankNifty 30531(+427)

Nifty futures open Interest increased by +1.2% as fresh longs got added. Nifty(spot) hit its new life time high in the last session, it would stay bullish as longs as holds above 11690 levels.

OI in BankNifty went up by +5.4% as fresh longs got added. BankNifty(spot) would continue to stay bullish above 30000 can move towards 30650-30800 levels.

OI Apr 18.png
 
Nifty 11753(-34) BankNifty 30223(-308)

Nifty futures open Interest stayed almost flat in the last session as no significant positions got added. Nifty(spot) current positive trend would change to neutral if closes below 11690 levels.

OI in BankNifty declined by -7.6% indicating wind-up of long positions. BankNifty(spot) after testing its recent high's slipped towards 30200 levels would stay neutral in the range of 29900-30500 levels.

OI Apr 22.png
 
Nifty 11594(-159) BankNifty 29688(-535)

Nifty futures open Interest(combined three months) went up marginally by +1% as fresh Shorts got added. Nifty(spot) closed around its 21DMA of 11603, may weaken and test its recent lows of 11550 levels on a stay below its 21DMA, any close below 11550 would weaken Nifty further.

OI in BankNifty declined by -11.3% as longs got unwinded. BankNifty(spot) closed below its 21DMA of 30012 indicating weakness, if breaks and holds below its recent lows of 29640 then it can slip towards 29450-29350 levels.

OI Apr 23.png
 
Nifty 11576(-18) BankNifty 29480(-208)

Nifty futures open Interest(combined three months) went up by +4.8% indicating addition of fresh Short positions. Nifty(spot) failed to hold above its 21DMA of 11606, may weaken further if breaks and holds below its recent lows of 11550.

OI in BankNifty increased by +5.2% as fresh Shorts got added. BankNifty(spot) would stay with negative bias below its 21DMA of 29995, can move towards its next support of 29300-29200 levels.

OI Apr 24.png
 
Nifty 11726(+150) BankNifty 29861(+381)

Nifty futures open Interest(combined three months) went up by a huge 11.8% indicating rollover of Long positions to May month contract. Nifty(spot) took support around its recent lows of 11550 and bounced back sharply, it would stay with positive bias above its 21DMA of 11619.

OI in BankNifty increased by +13.4% in line with Nifty as Longs are being rolled over. BankNifty(spot) would find resistance around its 21DMA of 30008, it has to close above this level for the trend to change.

OI Apr 25.png
 

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