For a particular stock, can we devising any trading strategy based on Equity (% of Delivered Quantity to Traded Quantity) & its Futures OI Data?

If % of delivered quantity to traded quantity is high compared to its daily average or with weekly avg then obviously it is a positive indication for any stock.

Increase of OI along with advance of price is also a positive sign.

If above both are observed at same time then it is a good sign but still there is need to consider other fundamental or technical or macro factors to enter in to trade to make sure odds of winning are in your favor.

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