Sunday, 30 August 2020

#Nifty #Outlook 31st Aug : OI Data Analysis

  1. FII - 127 long - 4340 short
  2. DII + 590 long - 1039 short
  3. DII and FII have 20% & 77% long position respectively
  4. FII having 77% long at the beginning of the series is worrying though for now they are pumping money in both cash and FnO
  5. Broad Range for Nifty looks like 11500 - 11900
  6. Bank Nifty closed at 24523 above 200 DEMA 23914 which will act as support. HH HL pattern continues
  7. Nifty Fut has support near 11355 - 20 DEMA Nifty HH HL pattern continues
  8. Data still developing for the series 
  9. Market remains Buy on Dips

Option Chain Data Interpretation

  1. Highest OI for Puts are at 11.5k followed by 11..6 which will act as support
  2. Highest OI for call is at 11.7k & 11.8/6k which will provide resistance to upmove
  3. As suggested Bulls are ruling the roost as of now. Let's see how does unfolds





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