Nifty futures open Interest(combined three months) stayed flat indicating no fresh positions. Nifty(spot) after taking support around its 50DMA started moving towards its 21DMA of 11859, it has to close above its 21DMA for any significant upside from current levels.
OI in BankNifty went up by +6.6% as further longs got rolled over to July contract. BankNifty(spot) is moving towards its resistance of 31000, may gain further strength if it happens to close above 31000.
Nifty futures open Interest(combined three months) stayed flat for the second straight session. Nifty(spot) closed around its 21DMA of 11856, if breaks and holds above then it can strengthen further to move towards 11930-11960 levels, on the downside 11760 would be the support.
OI in BankNifty stayed flat as no fresh positions got added. BankNifty(spot) strengthened above 31000 levels would stay bullish above this level can test its next resistance of 31300-31400 levels.
Nifty futures open Interest(combined three months) went up by +8.4% as fresh shorts got added . Nifty(spot) struggled to hold above its 21DMA of 11852, on a subsequent stay below this level, it may once again consolidate between its 21 & 50DMA of 11851-11702.
OI in BankNifty declined by -8.6% indicating wind up of long positions at higher levels. BankNifty(spot) would continue to stay with positive bias as long as it holds above its 21DMA of 30977.
Nifty futures open Interest stayed flat as no fresh positions got added. Nifty(spot) would stay weak below its 21DMA of 11848 can head towards its 50DMA of 11705.
OI in BankNifty declined by -3.1% indicating wind-up of long positions. BankNifty(spot) closed marginally above its 21DMA of 30967 can weaken further if happens to break and holds below its 21DMA, on the upside 31400 would be the near by resistance.
Nifty futures open Interest stayed flat for the second straight session. Nifty(spot) continued to stay around its 21DMA of 11844, it may gain strength once breaks and holds above 11900 levels.
OI in BankNifty increased marginally by +1.1% as fresh longs got added. BankNifty(spot) stayed positive may gain strength above 31450 can move towards 31650-31700 levels.
Nifty futures open Interest stayed declined by -2.6% indicating wind-up of short positions. Nifty(spot) closed above 11900 levels may strengthen further if holds, can expect pre-budget rally may test next resistance of 11970-12000 levels.
OI in BankNifty went up by +1.3% as fresh longs got added. BankNifty(spot) may gain further strength on a break above 31450 levels, on the downside 31000 would be near by support.
Nifty futures open Interest stayed flat in the last session. In the last few sessions there had been no significant OI build up, traders may be waiting for Budget. Nifty(spot) struggling to break above 11950 in the last two sessions, expected to stay cautious ahead of budget.
OI in BankNifty too in line with Nifty stayed flat. BankNifty(spot) has to break and hold above 31450 for any further upside from current levels.
Nifty futures open Interest continue to stay flat ahead of budget indicating no addition of fresh positions. Nifty(spot) closed around its resistance of 11960, so after budget 12000 would act as pivot point.
OI in BankNifty went up by +6.8% ahead of budget indicating fresh shorts at higher levels. BankNifty(spot) would weaken if slips and holds below 31200 levels.
Nifty futures open Interest stayed flat after budget indicating traders are yet to take a direction. Nifty(spot) closed marginally below its 21DMA of 11830 may weaken further if continued to stay below this level, support would be 11760 and 11690.
OI in BankNifty went up by +3.8% as fresh shorts got added. BankNifty(spot) closed around its resistance of 31450, has to hold above this level for a further up move, on the down side, 31200 would be the nearby support level.
Nifty futures open Interest stayed flat for the fourth straight session. Nifty(spot) crashed by 250 points in the last session, its heading towards the gap of 11400-11450 in candlestick chart formed in the month of May after exit polls.
OI in BankNifty declined by -1.4% indicating wind-up of long positions. BankNifty(spot) may weaken further if breaks and holds above its 50DMA of 30498, can head towards 29900 levels.
