Open Interest Analysis

Nifty 11913 (+5) BankNifty 31116(+367)

Nifty futures open Interest declined by -3% indicating wind-up of short positions. Nifty(spot) bounced from its near by support of 11850, trend would stay with positive as long as it holds above 11850.

OI in BankNifty went up by another +12% indicating heavy long positions had been created in the past four sessions. BankNifty(spot) current trend would continue to stay bullish as long as its support of 30500 holds, next resistance would be 31350-31450 range.

OI Nov 13.png
 
Nifty 11840 (-73) BankNifty 30542(-574)

Nifty futures open Interest increased by +1.8% indicating addition of fresh shorts. Nifty(spot) closed marginally below its support of 11850, if continue to stay below this level then Nifty can slip towards 11780-11750 range, on the upside 11920 would be the resistance.

OI in BankNifty declined by -9.3% as longs got un-winded. BankNifty(spot) settled around its support of 30500, if breaks and holds below 30500 it can weaken further.

OI Nov 14.png
 
Nifty futures open Interest declined by -1.5% as shorts got un-winded. Nifty(spot) managed to hold above 11850 amidst volatility in the last session, and this would act as pivot point with support for Nifty at its 21DMA of 11757.

OI in BankNifty stayed flat as no fresh positions got added. BankNifty(spot) would weaken only on a close below 30500 levels, on the upside 31100 would be near by resistance.

OI Nov 15.png
 
Nifty 11895 (+23) BankNifty 31008(+258)

Nifty futures open Interest went up marginally by +1.1% as fresh shorts got added. Nifty(spot) is getting stiff resistance above 11950 levels and it may weak below this level near by support range would be 11820-11770.

OI in BankNifty increased by +4.6% as longs got added. BankNifty(spot) is expected to consolidate in the range of 30500-31200 any break in this range would set the next trend.

OI Nov 18.png
 
Nifty 11894 (-1) BankNifty 31009(-1)

Nifty futures open Interest stayed flat as no fresh positions got added. Nifty(spot) continue to stay in a narrow range of 11800-11970 in the last few sessions, has to break this range for the next trend to set.

OI in BankNifty stayed flat indicating no fresh positions being added. BankNifty(spot) has found 31200 as resistance in the last few sessions, for any significant upside it has to close above 31200 on the downside, support would be 30500.

OI Nov 19.png
 
Nifty 11940 (+55) BankNifty 31236(+244)

Nifty futures open Interest stayed flat for the second straight session. Nifty(spot) closed near to its resistance of 11970-12000 range has to break its resistance to gain strength, on the downside, 11850 would be near by support level.

OI in BankNifty stayed went up by +6.2% as fresh longs got added. BankNifty(spot) settled marginally above 31200 levels if happens to stay above 31200 then it can move towards 31400-31500 range.

OI Nov 20.png
 
Open interest Analysis - for intraday

Nifty PCR at 1.4, PCR indicates bulls are in control, Nifty futures would stay strong as long as holds above 12000 can move towards 12070-12080.
 

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