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

Maruti 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.

Maruti  Option Front :

Maruti has given closing at 4011.5 on 3^rd April 2020. Highest call open interest is at 5200 strike price and highest Open interest at put side is at 4000 strike. Some addition at call has side seen at 4000.

Trading Range Of Maruti 

Now time to find out the trading range of the Maruti. For this purpose, we need to look for the highest call OI Row and Highest Put OI Row on the option chain of the Maruti. Trading range seems to be 3000 to 5200.

1. Highest Call at 5200. 

2. Highest Put at 4000. 

1. Pivot Strike at 4000.

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

Trend Cycles

 

Maruti Trend Cycles

Conclusion:

Maruti is near at very important support that is 4000. If it sustains below 4000 then some move towards 3200 and 3000 can be seen. And if it protects the support at 4000, we can see some move towards 5000 and 5200. 

This may take 6 to 7 trading days to happen. Trend Cycles of Maruti is in the weaker side, and shows extensive shorts on it. If there is no short cover happens then we may see more shorts. For the upside, Maruti needs to be protected 4000. So make or break level for Maruti is 4000. if it doesn’t protect that then move towards 3000 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.

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