Tuesday, February 3, 2015

Option Open Interest for 03-02-2015

Inference
The index opened positive above 8823 and stayed flat around 8800, but saw huge un-winding after RBI governor kept Repo Rate unchanged to the lows of the day at 8726.65 though closed a bit up at 8756.55, loss of 40.85 points. The broader market was negative, with 659 advances to 838 declines. Developing Range as per Option Table comes to 8500-9000.
  • Call option 8800-9300 added huge 20.97 lacs OI with small short covering seen at 8600 and lower strike prices.
  • Put option 8800-8100 added huge 13.03 lacs OI with short covering seen at 8900 strike price.
  • Nifty Open Interest is at 2,53,95,600 up by 4,26,800, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 25,05,175 up by 2,21,800, with decrease in price, most probably huge short build-up.
  • FII’s sold 4.08 lacs Futures, which includes 10410 contracts long liquidation and 5927 contracts short build-up, with decrease in net OI by 4483 contracts (includes 48238 longs to 64575 shorts for the day) and the Average Price comes to 8991.82.
  • FII’s Index future open contract as on date is 824176 Longs to 106464 Shorts, net long 717712 down by 16337 contracts.
  • Initial support at 8700, with OI of 22.55 lacs and below that at 8600 with OI of 25.51 lacs.
  • Initial resistance at 8900, with OI of 28.83 lacs and above that at 9000 with highest OI of 54.90 lacs.
  • Day Range as per Option Table is 8687 - 8853 and as per VIX is 8666 - 8847 with 8774 as the Pivot.
India VIX : 19.81 down by 0.60 points
Call OI : 33511450
Put OI : 28226250
PCR OI : 0.842
SMR : 23.52 (Bearish - Option Table getting Bearish, with PCR at the lowest level, time to be cautious with new shorts)