Bank Nifty Change in Open Interest Live

Bank Nifty Live OI Change Chart can give very useful clues for intraday support and resistance levels for Bank Nifty. If there is more addition in Open Interest at 12200 Calls, that would mean most market players are comfortable writing call options at this level because they believe it to be a strong resistance. That would be bearish indication for BankNifty.

Similarly is there is highest writing in 12000 Puts that would indicate strong intraday support at that level.

Third Scenario: There is good amount of Open Interest increase in 12000 PE and 12200 CE –> this means we should expect a range bound session for the day, as both bears and bulls are comfortable holding the 12200 and 12000 levels respectively.

Following factors could improve reliability of BankNifty OI Change analysis:

1) Put Call Ratio: Higher PCR means bullishness. If there is more writing at 12000PE and PCR is high and increasing during the day that would add to bullish scenario

If the PCR is declining for the day and more writing happening at 12200CE then this adds to bearishness.

2) Close to expiry: The closer to expiry we are, the more reliable the ‘Open Interest’ analysis. Early in the series, the OI analysis is less reliable.

3) More Players: As the number of players increase, the OI analysis become more reliable.

4) Bid-ask Spread: The lower the bid-ask spread the more reliable the OI analysis.

5) Technical Indicators: The best trades are found by combining OI analysis with other technical indicators. MACD, RSI, Channel lines and EW count give best results with Open Interest Analysis.

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  1. Nice site. Great work. Loving it.

    Just one suggestion, for BN can we have the OI for Monthly live and OI change for Monthly live always available (like Nifty)

    Right now what happens is we get weekly only. Hence the current weekly and monthly would be nice to follow.

  2. Hi,
    The site seems to provide a good information but I have a confusion. If the change in OI is increasing at Call or Put how can I identify whether the increase in OI is for writers or buyer?
    I mean of the OI increases at 10000 CE than that increase was due to writers or buyers at 10000 CE?
    Kindly answer

  3. Sir please explain about support & resistance will be the two nearest bar of put and call with respect to current market price ????????

  4. Just newly joined in this site, still working on how to watch changes in OI and the question of Call Put and Writings how to differentiate ?

    There should be better software that gives quick updates on changes in OI, bullish and bearish trend for indexes as wall as stocks !!!


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