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Adaniports analysis based on OI and Change in OI for Intraday and Swing Trading

Adaniports is the stock that we are going to analyse today based on Open Interest and Change in Open Interest for swing as well as Intraday Trade. We also check the Trend Cycles of it. Before this we have analysed UPL that have met its target.

Adaniports  Option Front :
Adaniports has given closing at 251.35 on 27th March 2020. Highest call open interest is at 260 strike price and highest Open interest at put side is at 250 strike. Some addition at call has side seen at 260.


Trading Range Of Adaniports 
Now time to find out the trading range of the Adaniports. For this purpose, we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the Adaniports. Trading range seems to be 260 to 240.

1. Highest Call at 260. 
2. Highest Put at 250. 
1. Pivot Strike at 250.

Highest call acts as the highest resistance and highest put will act as the highest support for the stocks.

Trend Cycles



Conclusion:
Adaniports is near at very important support that is 250. If it sustains below 250 then some move towards 240 and 230 can be seen. And if able to protect the support at 250, we can see some move towards 260 and 270. 

This may take 6 to 7 trading days to happen. Trend Cycles of Adaniports is in weak side, last day some short cover has happened if it continues then we may see some more upside. For the upside, Adaniports needs to be protected 250. So make or break level for Adaniports is 250. if it doesn’t protect that then move towards 240 can be seen.

Disclaimer: The analysis has been prepared for informational and educational purposes only. It is not and should not be regarded as investment advice or as a recommendation regarding any particular security or course of action.


Adaniports analysis based on OI and Change in OI for Intraday and Swing Trading Reviewed by Kumar Chandan on March 28, 2020 Rating: 5

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