Tuesday, March 24, 2015

Option Open Interest for 24-03-2015

Inference
The Index though opened negative, but stayed more or less positive throughout the better part of the day but closed negative at 8542.95, small loss of 7.95 points. The broader market was also weak, with just 558 advances to 937 declines. Developing Range as per Option Table is at 8500-9000.
  • Call option 8500 added 3.20 lacs OI with profit booking seen at 8700 and above strike prices.
  • Put option 8600-8400 added 8.56 lacs OI with short covering seen at 8700 and above strike prices.
  • Nifty Open Interest is at 1,68,92,675 down by 50,91,750, whereas April series added 64.31 lacs with decrease in price, most probably 100% roll-over with huge short build-up.
  • Bank Nifty Open Interest is at 21,18,975 down by 4,39,825, whereas April series added 4.64 lacs with decrease in price, most probably 100% rollover with small short build-up.
  • FII’s bought 6.89 lacs Futures, which includes 43985 contracts long build-up and 16434 contracts short build-up, with increase in net OI by 60419 contracts (includes 352889 longs to 325338 shorts for the day) and the Average Price comes to 9017.33.
  • FII’s Index future open contract as on date is 772775 Longs to 166978 Shorts, net long 605797 up by huge 27551 contracts.
  • Initial and best support 8500, with highest OI of 58.51 lacs and below that at 8400 with huge OI of 46.23 lacs.
  • Initial resistance at 8700, with OI of 34.73 lacs and above that at 8800 with OI of 40.12 lacs.
  • Day Range as per Option Table is 8482 - 8647 and as per VIX is 8482 - 8604 with 8569 as the Pivot.
India VIX : 13.67 down by 0.60 points
Call OI : 37433850
Put OI : 34449175
PCR OI : 0.920
SMR : 14.85 (Neutral to Bearish: The Option Table saw a bit of Bullish makeover due to huge liquidation seen by the CE writers and the best support getting better at 8500...)