Yes, it is very useful. But only option chain wont to do any good to you.
A Combination of technical indicators with Option chain can reap good returns.
Firstly, you will go mad by seeing the option chain on NSE, the numbers positives and negatives.
So, to keep away from this fuss. I have created my own Data Base which helps me convert those numbers into pictorial and alphabetical signals.
Here are few pictures from my dashboard dated — 30/12/2020.
It has proven to be helpful till now, like I can take quantitatively decisions, take trades only where is there high OI and change in OI with combination of a charting technical setup.
This data gets refreshed every 1 minute and gives signals accordingly as per the rule.
Instead of seeing 100+ videos on youtube where every other person has a different style of decoding the matter and turning it more complicated its better we let our system say us what to do.
There is still a lot which I can do, pivoting it and having multiple charts but I have kept it simple till now.
You can contact me if you are really interested I can send this file to you.
Also I share the pictures daily every 5 mins in a telegram channel.
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