Monday, March 16, 2015

Option Open Interest for 16-03-2015

Inference
The Index opened flat to positive and stayed in a narrow range with mostly negative bias with every small up-move being sold-off to close the day at 8633.15, small loss of 14.60 points. The broader market was weak, with just 451 advances to 1078 declines. Developing Range as per Option Table stays at 8400-9000.
  • Call option 8600-9000 added huge 15.36 lacs OI with profit booking seen at 9100 and above strike prices.
  • Put option 8500-8400, 8200-8100 added 8.25 lacs OI with short covering seen at 8700 and above strike prices.
  • Nifty Open Interest is at 2,49,86,050 up by 3,06,275, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 26,54,950 up by 1,17,800, with increase in price, most probably huge long build-up.
  • FII’s sold 1.99 lacs Futures, which includes 7584 contracts long liquidation and 401 contracts short build-up, with decrease in net OI by 7183 contracts (includes 46353 longs to 54338 shorts for the day) and the Average Price comes to 8857.08.
  • FII’s Index future open contract as on date is 787795 Longs to 122425 Shorts, net long 665370 down by 7985 contracts.
  • Initial support still at 8600, with OI of 43.99 lacs and below that at 8500 with huge OI of 49.63 lacs.
  • Initial resistance at 8700, with OI of 31.01 lacs and above that at 8800 with huge OI of 44.24 lacs.
  • Day Range as per Option Table is 8549 - 8724 and as per VIX is 8565 - 8702 with 8636 as the Pivot.
India VIX : 15.18 up by 0.21 points
Call OI : 39111025
Put OI : 36319975
PCR OI : 0.929
SMR : 16.35 (Bearish: A Pause – For more downside or a corrective bounce, based on OI Table, the index stays weak but near the best support zone of 8600-8500...)