A lot of websites provide you with data for trading.

However, I liked the free website of Icici Direct the most.

Here is a breakdown of what it can do: 🧵

Collaborated with @niki_poojary

Advantages:

1. Quantitative Analysis in one place
2. Easy to find stocks where action taking place
3. Find the exact price levels at which OI is being added.

You can check out this free website by clicking on this link.

https://t.co/honvUA9lmx
Where is the action taking place?

For eg, Nifty Heatmap Can easily scan for:

- Long Build up = Price Up and OI up
- Long Unwinding = Price Down and OI down
- Short Buildup = Price Down and OI up
- Short Covering = Price Up and OI down
Price levels of OI being added:

• Check 15 mins Built-up in any stock
• Can find Intraday Bullish and bearish trend
• Eg of IBUL who was down 5% on Friday. Short Built-up had started in the morning itself.
• Shows the quantities which are being traded in those intervals.
Time Intervals:

• There are 25, time intervals available every day.

• If a stock has to go up or down a lot it will be heavily dominated in these time intervals.

• IBUL had 10 times short built up on Friday. -5.79 %

• ITC had 14 long built-ups on Friday. +2.6%.
How to see the OI of a particular script?

Click on the stock name in the heat map and again click on the OI explanation of it. (Long build-up/long unwinding/ short build-up/ short covering)

You'll arrive at the 25-time interval page of the stock.
Gaps prediction:

Some traders check the last 45 mins data of the day to predict the gap opening for the next day.

Data gives them additional conviction, especially if huge contracts addition is taking place.

If short built up in the last 45 mins they sell calls.
Vice-versa
If you want a visual representation and explanation of the website you may refer to this video.

Explained really well about the benefits a trader can use via this website.

https://t.co/dikzI5A9QL
This is just a tool to aid you in your analysis and to quicken your process.

Data alone doesn't help, you also have to use your experience and apply learnings.
If you found this useful, please do RT first tweet.

Follow to never miss them.

See past threads here:
@AdityaTodmal & @niki_poojary

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