Thursday, January 8, 2015

Option Open Interest for 08-01-2015

Inference
A huge gap-up saw the index scale 8200 level easily and close near the highs of the day at 8234.60, huge gain of 132.50 points. The broader market was also strong, with 1249 advances to 298 declines. The Range as per OI Table still stays at 8000-8400.
  • No Call option added any OI with huge short covering seen at 8300 and below strike prices.
  • Put option 8300-7700 added huge 4.94 lacs OI with profit booking seen at 8000 strike price.
  • Nifty Open Interest is at 1,77,98,500 down by 9,17,525, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 21,82,125 down by 38,925, with increase in price, most probably short covering.
  • FII’s sold 1.68 lacs Futures, which includes 2136 contracts long liquidation and 4565 contracts short build-up, with increase in net OI by 4565 contracts (includes 56656 longs to 63357 shorts for the day) and the Average Price comes to 8710.09.
  • FII’s Index future open contract as on date is 453081 Longs to 94231 Shorts, net long 358850 down by 6701 contracts.
  • Initial support now up at 8200, with huge OI of 46.69 lacs and below that at 8000 with highest OI of 62.90 lacs.
  • Initial resistance at 8300, with OI of 39.20 lacs and above that at 8400 with OI of 53.94 lacs.
  • Day Range as per Option Table is 8137 - 8306 and as per VIX is 8164 - 8306 with 8215 as the Pivot.
India VIX : 16.47 down by 1.67 points
Call OI : 38105050
Put OI : 41923100
PCR OI : 1.100
SMR : 14.97 (Neutral - The level of 8000 is more or less sealed for the series and the index may stay within the range of 8000-8400 for next few days...)