Tuesday, 8 September 2020

#Nifty #Outlook 9th Sep : OI Data Analysis

  1. FII   729 long - 3338 short                               DII - 0 long + 3241 short
  2. DII and FII have 22% & 59% long position respectively
  3. FII & DII have net long and short of position respectively 
  4. Broad Range for Nifty looks like 11000 - 11900 down side range may open up
  5. Nifty closed at 11317 below 20 DEMA (11371). Next support is 11083. Key level for Nifty is 11300
  6. BankNifty closed at 22657 below 20 DEMA 22968. 22521 (50 DEMA ) will be key level to watch out

Option Chain Data Interpretation

  1. Highest OI for Puts are at 11.3k followed by 11.2k which will act as support
  2. Highest OI for call is at 11.6/.5k & 11.4k which will provide resistance to upmove
  3. Bulls today needs to defend 11300. Bear continues to have firm grip on the markets as suggested yesterday
  4. Rusty was Bull trap towards end of the session
  5. Market remains Sell on Rally 




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