Tuesday, April 21, 2015

Option Open Interest for 21-04-2015

Inference
The Index opened negative just above 8400, but saw a dip below the same within the first few minutes of trade. The index then stayed in a narrow range with neutral bias but saw huge sell-off in the last hour to close weak at 8377.75, a huge loss of 70.35 points. The broader market was weak, with 629 advances to 854 declines. Range as per Option Table is 8300-9000.
  • Call option 8300-8600 added huge 31.32 lacs OI with profit booking seen at 8700, 8900 and above strike prices.
  • Put option 8400-8000 added huge 21.15 lacs OI with short covering seen at 8500 and above strike prices.
  • Nifty Open Interest is at 2,14,65,325 up by 10,30,900, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 19,53,550 down by 5,675, with not much change in price, most probably short covering.
  • FII’s bought 3.54 lacs Futures, which includes 39074 contracts long build-up and 24934 contracts short build-up, with increase in net OI by 64008 contracts (includes 102954 longs to 88814 shorts for the day) and the Average Price comes to 8531.21.
  • FII’s Index future open contract as on date is 588303 Longs to 212975 Shorts, net long 375328 up by 14140 contracts.
  • Initial and very good support still at 8400, with OI of 40.85 lacs and below that at 8300 with OI of 44.80 lacs.
  • Initial resistance at 8500, with OI of 45.58 lacs and above that at 8600 with huge OI of 45.34 lacs.
  • Day Range as per Option Table is 8311 - 8480 and as per VIX is 8303 - 8452 with 8400 as the Pivot.
India VIX : 17.03 up by 0.73 points
Call OI : 41093350
Put OI : 33799350
PCR OI : 0.823
SMR : 20.71 (Bearish: In just 5 days the index has lost 456 points with pessimism at prime, time to be cautious with new shorts, though sell on rallies continues...)