Open Interest is a very important data point when deciding to daytrade or swing trade in India.
The Open Interest Data is normally available as a column data on your market watch.
Having a Charting platform with an Open Interest Indicator could be very useful tool for Futures and Option traders.
The reliance tick web platforms supports live plotting of Open interest data on a 1 min Chart.
This helps you track the progress of OI throughout the trading day on a 1 min chart.
Screenshot of Tick web app with Open Interest indicator.
TICK Web app supports other Indicators like :
- Open Interest.
- PCR Volume.
- Fresh Contracts.
- Square Off Contracts.
- Cost Of Carry.
The above indicator plotting on 1 min charts are unique to the Reliance tick web platform.
To get access to this valuable charting platform, open up a Trading and demat account with reliance.
The account opening fee cost about 500+ INR with no annual maintenance charges.
For more information, Visit : http://www.rsec.co.in/why-us
Is Plotting OPEN INTEREST on any charts useful for Intraday Trading ?
In my Opinion, NO. It is a case of “the other side is always greener.”