Today at 10 am bnk was around 36730 and at the same time INTRADAY OPEN Interest was at call - 0.3 Mill and put 4.8 Mill . Coming to WEEKLY OI DATA at 10 am call OI has not changed much BUT put OI increased during the said time from 22 mill to 27 mill making put call ratio as 1, giving a bullish outlook.later bnk reached 36800 AT 12 pm and at around 12.30 pm INTRADAY call OI was at 0.3 Mil and put OI increased to 11 Mill and WEEKLY OI has not changed much. Analyzing this I have changed my double diagonal both ce and pe ( sideways entered yesterday) to bullish side at 12.30 pm . But suddenly at 1.00 pm, bnk went down to 36500, even though there is no much change in INTRADAY OI and WEEKLY OI and iam out of trade with little profit. Then at 3 pm again the market went up to 36850 and during this time INTRADAY CALL OI was at : (- 2.8) mill and put OI decreased to 6 mill from 11 ,whereas WEEKLY OI stood at call - 28 mill and put - 22 mill
Can any one tell me where iam wrong or is there any other ways to analyse OI with some other indicators like strike OI charts etc???
Please help me to increase my knowledge
Thanks in Advance