Monday, 10 August 2020

#Nifty #Outlook 11th Aug : OI Data Analysis

1. FII - 352 long - 907 short

2. DII 0 long + 69 short

3. DII and FII have net short & long position

4. DII and FII have 23.5% & 58.7% long position respectively 

5. Broad Range for Nifty looks like 10700 - 11300

6. BANKNIFTY could sustain above 20 DEMA (21830) l5 which will act as support plus gives bullish tone to the market

7. Nifty 50 continues making HH and HL which is positive for Bull case with RSI Trending.

8. Nifty had support near 11030 - 20 DEMA

Option Chain Data Interpretation

1. Highest OI for Puts are at 11k followed by 11.2 and 11.1k which will act as support

2. Highest OI for call is at 11.3k & 11.4k which will provide resistance to upmove

3. At levels 11.1 to 11.25k we could see short covering which gives bullish texture to market 

4. Bears will try and defend 11300 which will provide good resistance to bulls




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