Monday, March 23, 2015

Option Open Interest for 23-03-2015

Inference
The Index opened positive above 8600 but saw selling pressure from the onset to move down to the lows of the day at 8540 but closed a tad higher at 8550.90, loss of 20.00 points. The broader market was very weak, with just 414 advances to 1108 declines. Developing Range as per Option Table is at 8500-8900.
  • Call option 8500-8600 added huge 12.24 lacs OI with profit booking seen at 8700 and above strike prices.
  • Put option 8500 added 0.54 lacs OI with short covering seen at 8600 and above strike prices.
  • Nifty Open Interest is at 2,19,84,425 down by 9,12,925, whereas April series added 6.37 lacs with decrease in price, most probably 70% roll-over with huge long liquidation.
  • Bank Nifty Open Interest is at 25,58,800 down by 56,125, whereas April series added 1.80 lacs with decrease in price, most probably 100% rollover with huge short build-up.
  • FII’s sold 4.49 lacs Futures, which includes 13584 contracts long liquidation and 4377 contracts short build-up, with decrease in net OI by 9207 contracts (includes 73408 longs to 91369 shorts for the day) and the Average Price comes to 8978.66.
  • FII’s Index future open contract as on date is 728790 Longs to 150544 Shorts, net long 578246 down by 17961 contracts.
  • Initial and best support 8500, with highest OI of 53.12 lacs and below that at 8400 with huge OI of 45.67 lacs.
  • Initial resistance at 8600, with huge OI addition of 10.15 lacs and above that at 8700 with huge OI of 40.56 lacs.
  • Day Range as per Option Table is 8481 - 8647 and as per VIX is 8487 - 8615 with 8567 as the Pivot.
India VIX : 14.27 up by 0.01 points
Call OI : 40983350
Put OI : 34410425
PCR OI : 0.840
SMR : 17.00 (Bearish with Caution: The OI Table stays weak just a few days before expiry with 8700 level as huge resistance and the best support at 8500...)