Nifty futures open Interest(combined three months) went up by a huge +12.7% indicating fresh Short positions, it seems both longs and shorts are being rolled over in equal numbers as May contract being crucial due to outcome of election results. Nifty(spot) failed to hold above 11700 amidst volatility and closed near to its 21DMA of 11632, in the last few session it had its support of 11550 may once again test this level, while 11730 would be resistance.
OI in BankNifty declined by -2.1% as longs got unwinded. BankNifty(spot) would stay weak as long as it holds below its 21DMA of 30021, its near by support would be 29350-29250 levels.
Nifty futures open Interest went up by +1.7% indicating addition of fresh longs. Nifty(spot) once gain regained 11700 levels. In the last three session's it had formed a wider range of 11550-11750 and closed near to its upper range, further upside from current levels is possible if Nifty holds above 11750 then it can move towards 11800-11830. At the same time as both longs and shorts are being rolled over in equal numbers in the current May month contract volatility is expected to increase once the countdown to May 19-23(Exit polls and Actual results) nears.
OI in BankNifty increased further by +10.6% as fresh longs are being added. BankNifty(spot) is expected to move towards 30200-30350 once it breaks and holds above its 21DMA of 30028. On the downside, 29550 would be the support level.
Nifty futures open Interest declined by -2% indicating unwinding of short positions. Nifty(spot) took support around its 21DMA of 11660, it would stay with positive bias above this level can move towards 11800 levels.
OI in BankNifty decreased by -8.8% as longs got unwinded. BankNifty(spot) continue to stay in the range of 29500-30000 in the last few sessions, would stay with negative bias as long as it holds below its 21DMA of 30015.
Nifty futures open Interest declined by -2.7% as longs got unwinded. Nifty(spot) continued to consolidate around its 21DMA in the last few sessions, it has to close out of its recent range of 11650-11800 for the next trend to set.
OI in BankNifty decreased by -4.8% indicating wind-up of long positions. BankNifty(spot) trading range had been 29500-30000, it has to break this range for any significant movement and would stay with negative bias below 30000 levels.
Nifty futures open Interest stayed almost flat in the last session as no fresh positions got added. Nifty(spot) would weaken if closes below its 21DMA of 11671, on the upside 11770-11790 would be a tough resistance.
OI in BankNifty increased by +2.8% indicating addition of fresh longs. BankNifty(spot) closed near to its higher side of its recent trading range of 29500-30000, may strengthen further if closes above 30050, on the other hand on a failure to move above 30050 it may once again slip towards 29600-29500 levels.
Nifty futures open Interest went up by +1.7% as fresh shorts got added. Nifty(spot) closed below its 21DMA of 11668, would stay weak below this level, it has support around 11550 may weaken further if breaks and closes below 11550.
OI in BankNifty increased by +2.1% indicating addition of fresh short positions. BankNifty(spot) continue to stay in the range of 29500-30000 has to break this range for the next trend to set.
Nifty futures open Interest stayed almost flat indicating no addition of fresh positions. Nifty(spot) closed below its support of 11550 indicating weakness may move towards its next support of 11450-11400 levels, current trend may stay weak below its 21DMA of 11658.
OI in BankNifty increased by +6% as fresh shorts got added. BankNifty(spot) broke its recent trading range of 30000-29500 on the downside, can test its 50DMA of 29069, its resistance would be 21DMA of 29875.
Nifty futures open Interest increased by +1.7% indicating addition of fresh Shorts. Nifty(spot) weakened further to close below its 50DMA of 11404, can move towards its next support of 11300-11280 levels.
OI in BankNifty declined marginally by -1% as longs got unwinded. BankNifty(spot) too in line with Nifty closed below its 50DMA of 29115, it can slip towards 28800-28750.
Nifty futures open Interest declined by -6.7% as longs got unwinded. Nifty(spot) continued to stay weak, in short term it looks oversold, it can bounce back towards 11370-11400 if manages to hold above its next support of 11220 levels.
OI in BankNifty decreased by -4.8% indicating windup of long positions. BankNifty(spot) would find support around 28500-28600 can move towards its 50DMA of 29154 in holds above its support levels.
Nifty futures open Interest declined by -5.6% as longs got unwinded. Nifty(spot) has to hold above its nearby support of 11220 then it may bounce back towards 11370-11400 levels.
OI in BankNifty decreased by -9% indicating windup of Short positions at lower levels. BankNifty(spot) would have support around its last week lows of 28800 levels, if holds above this level then it can bounce towards 29350-29450 levels.
