Friday, February 27, 2015

Option Open Interest for 27-02-2015

Inference
The index opened up around 8729 and stayed positive throughout the entire day of trade, making higher highs with each passing hour to close near the top at 8844.60, huge gain of 160.75 points. The broader market was also strong, with 1078 advances to 420 declines. Developing Range as per Option Table at start of series comes to 8500-9000.
  • Call option 8800-9400 added huge 48.06 lacs OI with small short covering seen at 8700 strike price.
  • Put option 8900-8100 added huge 37.33 lacs OI with not much change at other strike prices.
  • Nifty Open Interest is at 2,41,92,825 up by 2,08,000, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 19,97,100 down by 60,075, with increase in price, most probably huge short covering.
  • FII’s bought huge 11.44 lacs Futures, which includes 35219 contracts long build-up and 10533 contracts short covering, with increase in net OI by 24686 contracts (includes 111594 longs to 65842 shorts for the day) and the Average Price comes to 8840.08.
  • FII’s Index future open contract as on date is 724206 Longs to 111084 Shorts, net long 613122 up by 45752 contracts.
  • Initial and best support at 8500, with OI of 42.70 lacs.
  • Initial and best resistance at 9000, with highest OI of 52.79 lacs.
  • Day Range as per Option Table is 8733 - 8899 and as per VIX is 8754 - 8935 with 8806 as the Pivot.
India VIX : 19.57 down by 1.01 points
Call OI : 27869775
Put OI : 27117825
PCR OI : 0.973
SMR : 20.11 (Bullish with Caution: Price action for the day was Bullish, but PCR has gone below 1, so need to be Cautious as higher levels...)