Wednesday, February 11, 2015

Option Open Interest for 11-02-2015

Inference
The index opened strong just above 8600 and stayed strong throughout to make high of 8652 but closed just lower at 8627.40, still a huge gain of 61.85 points. The broader market was strong, with 1020 advances to 478 declines. Developing Range as per Option Table stays at 8300-9000.
  • Call option 9000-9100 added small 0.91 lacs OI with profit booking seen at 9200 strike price.
  • Put option 8700-8400 added huge 4.76 lacs OI with profit booking seen at 8300 and below strike prices.
  • Nifty Open Interest is at 2,48,08,300 down by 1,33,800, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 21,14,975 up by 52,650, with increase in price, most probably long build-up.
  • FII’s sold 3.02 lacs Futures, which includes 9700 contracts long liquidation and 2389 contracts short build-up, with decrease in net OI by 7311 contracts (includes 43213 longs to 55302 shorts for the day) and the Average Price comes to 8687.90.
  • FII’s Index future open contract as on date is 727985 Longs to 124173 Shorts, net long 603812 down by 12089 contracts.
  • Initial support is up at 8600, with OI of 33.91 lacs and below that at 8500 with huge OI of 41.43 lacs.
  • Initial resistance stays at 8700, with OI of 25.92 lacs and above that at 8800 with OI of 35.08 lacs.
  • Day Range as per Option Table is 8539 - 8712 and as per VIX is 8535 - 8720 with 8624 as the Pivot.
India VIX : 20.50 down by 0.69 points
Call OI : 38681450
Put OI : 33785625
PCR OI : 0.873
SMR : 23.47 (NEUTRAL - The Option Table though not still out of the woods but looks good for the Bulls to make a come-back with a base at 8500)