Friday, March 27, 2015

Option Open Interest for 27-03-2015

Inference
The Index opened strong around 8396 and went on to touch the highs of the day of 8413 within the first few minutes of trade but saw huge unwinding to the lows of the day at 8269. Bottom fishing saw the index close flat at 8341.40, loss of 0.75 points. The broader market was weak, with 585 advances to 927 declines. Developing Range as per Option Table is huge at 8100-9000.
  • Call option 8200-9100 added huge 30.43 lacs OI.
  • Put option 8400-7900 added huge 13.55 lacs OI with short covering seen at 8500 and above strike prices.
  • Nifty Open Interest is at 2,12,87,100 down by 5,50,750, with small decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 21,48,950 down by 1,13,925, with increase in price, most probably huge short covering.
  • FII’s bought 1.89 lacs Futures, which includes 12459 contracts long liquidation and 20011 contracts short covering, with decrease in net OI by 32470 contracts (includes 77740 longs to 70188 shorts for the day) and the Average Price comes to 8514.90.
  • FII’s Index future open contract as on date is 502684 Longs to 126124 Shorts, net long 376560 up by 7552 contracts.
  • Initial support still at 8300, with OI of 24.15 lacs and below that at 8200 with OI of 24.94 lacs.
  • Initial resistance at 8500, with OI of 25.70 lacs and above that at 8600 with OI of 26.40 lacs.
  • Day Range as per Option Table is 8257 - 8432 and as per VIX is 8278 - 8405 with 8341 as the Pivot.
India VIX : 14.50 down by 0.66 points
Call OI : 24983600
Put OI : 23094250
PCR OI : 0.924
SMR : 15.69 (Bearish: Though the fall has been stalled for the day, but the Option Table still remains weak with huge resistance building up around 8500...)