If you are trading short time frame, here is what I would do
- Look at candlesticks and volume charts of F&O stocks
- Volume and volume profile matters a lot
- Short list some three things you will follow for deciding entry - Can be moving averages, candles etc (which is what I use)
- Look at OI, general direction of the index etc only as an additional data point. OI is never a good standalone thing, especially in stocks. Underlying volume is the king here.
- Enter if there is an entry by way of confirmation of a support or resistance, which is confirmed by price action (big volume candles, signals, wicks, etc)
There is a free tool we have for shortlisting opportunities
https://web.sensibull.com/candles
Hope this helps