Open Interest Analysis

Nifty futures open Interest went up by +9.5% as fresh shorts got added. Nifty(spot) found resistance around 11700 levels, it may consolidate in the range of 11500-11700 before moving above 11700 levels.

OI in BankNifty decreased by -3% as longs got un-winded at higher levels. BankNifty(spot) has to hold above its 100DMA of 29345 for any further upside, 29000-29100 would be near by support range.

OI Oct 23.png
 

DanPSup

Hedge Strategy Trader in Options and Futures
To be a bit it more specific in your thread: Do you have any information from who and how much of the OI comes? This would be the finall call. :))
 
Nifty 11604(+16) BankNifty 29460(+49)

Nifty futures open Interest decreased by -2.5% as shorts got un-winded. Nifty(spot) would once again try to break above 11700 as long as it holds above 11550 levels.

OI in BankNifty declined by -4.6% indicating wind-up of long positions. BankNifty(spot) closed above its 100DMA for the last two session, this would be the pivot level with resistance at 29750 while near by support would be 29100.

OI Oct 24.png
 

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