Ramesh0296

NIFTY for 7 aug and For next week

NSE:NIFTY   Nifty 50 Index
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
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Comments

Nifty low to close around 73 points, high to close 57 points, so it 's bullish bias
Reply
Ramesh0296 Sulthan313
@Sulthan313, You are right, Thanks :-), I hope next time it will not repeat
Reply
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