Sunday, 23 August 2020

#Nifty #Outlook 24th Aug : OI Data Analysis

  1. FII + 9609 long - 6271 short
  2. DII - 617 long - 0 short
  3. DII and FII have net short & long position
  4. DII and FII have 21% & 60% long position respectively
  5. Broad Range for Nifty looks like 11000 - 11600
  6. BNF closed above 20 DEMA (22000) at 22282
  7. Nifty Fut has support near 11212 - 20 DEMA
  8. BNF Setup as of now looks bullish than NF

Option Chain Data Interpretation

  1. Highest OI for Puts are at 11.2k followed by 11.3 which will act as support
  2. Highest OI for call is at 11.5k & 11.4k which will provide resistance to upmove
  3. Notice calls are getting covered at 11300-350  indicates bears are on back foot.
  4. Lots of Put writing seen at 11300 signals bullish tinge to market
  5. Bears will try and defend 11400 and will push towards 11300
  6. Market Texture Buy on Dips





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