Monday, 31 August 2020

#Nifty #Outlook 1st Sep : OI Data Analysis

Today's day can be summarized as BULLS climb the Stairs but Bears Jump from the Window

Past 6 days gain wiped out in simgle day

  1. FII - 24618 long - 27322.                             DII - 20 long - 160 short
  2. DII and FII have 20% & 58% long position respectively
  3. FII covered almost 25% long and added 50% to their existing short moving longs to 58% from 77%
  4. Yesterday ( screen below) had shown cause of worry with FII 77% long at the beginning of the series. Worry wasn't unfounded. Today there is huge sell number of 5k cr from FII in FnO 
  5. Broad Range for Nifty looks like 11000 - 11900
  6. Nifty had formed Black Marubozu Candle and closed near support near 11339 - 20 DEMA chart shared 
  7. Likewise Bearish Engulfing pattern is visible on Bank Nifty Chart Bank Nifty closed below 200 DEMA which will now be resistance (23911) next support near 22711 - 20 DEMA 

Option Chain Data Interpretation

  1. Highest OI for Puts are at 11.4k followed by 11.3k which will act as support
  2. Highest OI for call is at 11.5k & 11.6k which will provide resistance to upmove
  3. Bears got back to the charging bulls and ran all over them
  4. Notice long covers ( red box) in pots 11200-11700 indicating Bulls on back foot


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#Nifty #Outlook 23rd Oct : OI Data Analysis