Nifty Open Interest Analysis

[jamit_05]

A typical pullback. Where bulls are not showing conviction on the Option table and bears are holding ground, not even taking a single step back. If shorting comes by today it is likely to be strong. If you want to join this fall, now is a good time to start looking for setups.

 

[shivan]

A typical pullback. Where bulls are not showing conviction on the Option table and bears are holding ground, not even taking a single step back. If shorting comes by today it is likely to be strong. If you want to join this fall, now is a good time to start looking for setups.

can you please tell what do you mean by start looking for setups.

 

[jamit_05]

can you please tell what do you mean by start looking for setups.

Well, if you want to take a position you cannot just punch in order because some has told you to... you gotta have your own take on it. So, you look at the charts for "setups" that put at least the intraday odds of success in your favour.

Ex. of setups,

1) A 15/30 min pivot low break
2) Or a failure of pivot high break, or
3) a HOD break failure...

there are several others. Choose what suits you.

 

[dineshN]

today also 5400 PE and 5500 PE addition taking place at huge volumes! Doesn't that mean good support is being built up?

 

[jamit_05]

today also 5400 PE and 5500 PE addition taking place at huge volumes! Doesn't that mean good support is being built up?

House of cards. All that volume is not adding up to anything substantial. For ex. look at OI on 5700 CE; 86L now that is a resistance to reckon with. And look at the highest OI on PE side 66 L... house of cards. Just one gust of bearish wind and both will fall apart.

But mind you winds can blow both ways.... even 5700 CE can disintegrate. Gotta watch.

 

[jamit_05]

SBIN, Reliance and ONGC are on the dark side... good enough. Infy or TCS could join in for confirmation.

Results of Infy are expected to add to the bearish sentiment. Lets see how much it affects.

 

[jamit_05]

Bulls had an entire trading day and half to gather momentum and at least make a base... they couldn't. They did not come out in numbers even after a gap up. The house of cards is about to fall. (Or so I am hoping

 

[boarders]

odin data at 1056am

 

[boarders]

nifty taking support at previous day high if same breaks on downside then we can fall I feel

 

[jamit_05]

Enough of bull-bashing. I looked on the other-side.

There is news that US pumped in more money yesterday... they had the FOMC meet. Liquidity is the kinda rain that washes all worries.

So, adhere to stop loss. Possibility of upside not completely vanished.