For 07/08/2020
Nifty Today Close 11200.15
PRICE ACTION,OPEN INTEREST & CHANGE IN OI
Today Nifty
Made high of 11256.8 and
low of 11127.3 then
closed at 11200.15
which showed the Selling pressure on top and also
buying pressure from bottom
High to close - 57 points down
Low to close - 15 points up
i.e Bear Power is 3.8X+ more than Bull power
BEARISH Bias
NIFTY FUT (AUG) close - 11212
Future made High of 11277 and
low of 11120
High to close - 65 points down
Low to close - 92 points up
i.e Bull Power is 1.4x+ in future
BULLISH BIAS
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OPEN INTEREST ANALYSIS
HIGH CE OI- 11500
HIGH PE OI- 11000
Next week Range Probably - 11000 to 11500 till now
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CHANGE IN OPEN INTEREST ANALYSIS
High Change in Open Interest
PE strike 11200 - 10923 contracts added today
In CE side not much contracts added compare to PE side
then 10200 will be a good support as per OI data
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CONCLUSION
As per OI data Bears out, Bulls in. - Bullish Bias
If open above 11200 with good pre session bullishness then entire day will be in BULLS hand
Otherwise will be volatile in nature
I am on Bull side for 11290/340
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The Profit Patterns
**Educational Purpose only
-----------------------------------------------------------------
LIKE & FOLLOW TO GET MORE TRADE IDEAS
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Nifty Today Close 11200.15
PRICE ACTION,OPEN INTEREST & CHANGE IN OI
Today Nifty
Made high of 11256.8 and
low of 11127.3 then
closed at 11200.15
which showed the Selling pressure on top and also
buying pressure from bottom
High to close - 57 points down
Low to close - 15 points up
i.e Bear Power is 3.8X+ more than Bull power
BEARISH Bias
NIFTY FUT (AUG) close - 11212
Future made High of 11277 and
low of 11120
High to close - 65 points down
Low to close - 92 points up
i.e Bull Power is 1.4x+ in future
BULLISH BIAS
-----------------------------------------------------------------
OPEN INTEREST ANALYSIS
HIGH CE OI- 11500
HIGH PE OI- 11000
Next week Range Probably - 11000 to 11500 till now
-----------------------------------------------------------------
CHANGE IN OPEN INTEREST ANALYSIS
High Change in Open Interest
PE strike 11200 - 10923 contracts added today
In CE side not much contracts added compare to PE side
then 10200 will be a good support as per OI data
-----------------------------------------------------------------
CONCLUSION
As per OI data Bears out, Bulls in. - Bullish Bias
If open above 11200 with good pre session bullishness then entire day will be in BULLS hand
Otherwise will be volatile in nature
I am on Bull side for 11290/340
-----------------------------------------------------------------
The Profit Patterns
**Educational Purpose only
-----------------------------------------------------------------
LIKE & FOLLOW TO GET MORE TRADE IDEAS
-----------------------------------------------------------------
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.