Thursday, January 15, 2015

Option Open Interest for 15-01-2015

Inference
The index opened huge gap-up on the back of 25 bps interest rate reduction by the RBI governor and went on to scale 8500 making a high of 8527.10 but closed just below at 8494.15, huge-huge gain of 216.60 points. The broader market was also strong, with 986 advances to 561 declines. The broader range as per OI Table is 8100-8700.
  • Call option 8600-8900 added huge 40.35 lacs OI with short covering seen at 8500 and lower strike prices.
  • Put option 8800-8300 added huge 61.20 lacs OI with profit booking seen at 8100 and below strike prices.
  • Nifty Open Interest is at 2,06,45,950 up by 30,68,375, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 21,05,875 down by 87,350, with increase in price, most probably huge short covering.
  • FII’s bought huge 42.42 lacs Futures, which includes 156948 contracts long build-up and 12717 contracts short covering, with increase in net OI by 144231 contracts (includes 276700 longs to 107035 shorts for the day) and the Average Price comes to 8773.72.
  • FII’s Index future open contract as on date is 640572 Longs to 97602 Shorts, net long 542970 up by 169665 contracts.
  • Initial support at 8400, with huge OI addition of 29.42 lacs for the day and below that at 8300 with OI of 46.96 lacs.
  • Initial and weak resistance at 8500, with OI of just 33.69 lacs and above that at 8600 with OI of 48.17 lacs.
  • Day Range as per Option Table is 8383 - 8566 and as per VIX is 8422 - 8566 with 8467 as the Pivot.
India VIX : 16.16 down by 1.09 points
Call OI : 35339225
Put OI : 51467475
PCR OI : 1.456
SMR : 11.10 (Bullish - The Bullish OI Table came to forefront with huge up-move and now 8400 looks like a good support...)