Sunday, April 26, 2015

Option Open Interest for 24-04-2015

Inference
The Index opened flat to positive above 8405 but saw huge selling pressure from the morning itself to make new lows with each hour, making a low of 8273. A small short covering towards the end saw the index close just above 8300 at 8305.25, still a huge loss of 93.05 points. The broader market was also weak, with just 235 advances to 1287 declines. Range as per Option Table is 8200-9000.
  • Call option 8200-8400 added huge 18.62 lacs OI with profit booking seen at 8800 and above strike prices.
  • Put option 8200-8000 added 7.86 lacs OI with short covering seen at 8400 and above strike prices.
  • Nifty Open Interest is at 1,95,51,700 down by 8,24,425, whereas May series added 3.83 lacs with decrease in price, most probably some rollover with huge long liquidation.
  • Bank Nifty Open Interest is at 18,15,325 up by 14,325, whereas May series added 1.08 lacs with decrease in price, most probably huge short addition in both series.
  • FII’s sold 6.75 lacs Futures, which includes 19816 contracts long liquidation and 7168 contracts short build-up, with decrease in net OI by 12648 contracts (includes 53257 longs to 80241 shorts for the day) and the Average Price comes to 8435.99.
  • FII’s Index future open contract as on date is 550121 Longs to 232004 Shorts, net long 318117 down by huge 26984 contracts.
  • Initial and best support at 8300, with OI of 50.45 lacs and below that at 8200 with OI of 47.89 lacs.
  • Initial resistance at 8400, with huge OI addition of 8.46 lacs and above that at 8500 with OI of 51.11 lacs.
  • Day Range as per Option Table is 8229 - 8417 and as per VIX is 8225 - 8386 with 8331 as the Pivot.
India VIX : 19.11 up by 0.61 points
Call OI : 43062625
Put OI : 33410700
PCR OI : 0.776
SMR : 24.62 (Bearish: Pessimism all around with the Option Table in a sea of red, but at the best support level going to the Expiry week, some range bound moves possible...)