Open Interest Analysis

[Jayakumar.int]

 

[Jayakumar.int]

 

[Jayakumar.int]

 

[Jayakumar.int]

 

[Jayakumar.int]

 

[coralperring]

It sounds like Jayakumar.int is analyzing open interest (OI) data to make predictions about the direction of the Nifty and BankNifty indices. Here's a breakdown of what he's looking at and the assumptions he's making:

1. Nifty Futures Longs: Jayakumar.int notes that some long positions were added to Nifty futures, though not significantly. This suggests that there could still be upside potential in the Nifty index, potentially reaching levels between 10420-10470.
2. BankNifty Longs: Fresh long positions were added to BankNifty, indicating strength in this index compared to Nifty. He anticipates that upcoming economic data releases (like IIP and inflation) and events (such as the GST meeting) will impact BankNifty's movement.
3. Potential BankNifty Target: Depending on the outcomes of these events, particularly if there's a positive reaction, BankNifty could move towards 25900.

Jayakumar.int seems to be using open interest data along with fundamental analysis (considering economic indicators and events) to form his market outlook. Open interest, which represents the total number of outstanding derivative contracts, can provide insights into market sentiment and potential future price movements.
It's important to note that market predictions based on open interest and fundamental factors are speculative and subject to change based on new information and market dynamics. Traders should always conduct thorough analysis and risk management before making trading decisions based on such forecasts.