Market Internal tool used for trading Nifty Futures and Options
Calculation Method: Underlying stocks Free Float Market capitalization weightage has been used to calculate the outcome.
Data Taken from IISL
Indicator Understanding:
Red Line: Down Volume of Underlying Stocks of Nifty Green Line: Up Volume of Underlying stocks of Nifty Black Line: Difference of UP and DOWN Volume Gray Line: 10 PERIOD SMA of Difference Volume
Interpretation: By seeing you can visualize how the underlying volumes are affecting the Nifty Price action.