Thursday, 3 September 2020

#Nifty #Outlook 4th Sep : OI Data Analysis

  1. FII  - 7279 long + 2145                                            DII + 9 long -839 short
  2. DII and FII have 20% & 57% long position respectively
  3. FII & DII have net long and short of position respectively 
  4. Broad Range for Nifty looks like 11000 - 11900
  5. Nifty Inside bar formation continues as suggested yesterday Nifty have sideways 11388 is 20 DEMA. Nifty HH HL continues
  6. Bank Nifty had another 3rd attempt at 23911 200 DEMA after correction fails which will act as resistance. Low formed on shakeout day Aug 31st - 23394 will be key support 

Option Chain Data Interpretation

  1. Highest OI for Puts are at 11.5k followed by 11.4k which will act as support
  2. Highest OI for call is at 11.6k & 11.7k which will provide resistance to upmove
  3. Looking at puts written at 10500 it should hold
  4. Buy on DIPs seems to be back however Indian Markets are subject to DOW futures risk  😜

No comments:

Post a Comment

#Nifty #Outlook 23rd Oct : OI Data Analysis