Wednesday, April 29, 2015

Option Open Interest for 29-04-2015

Inference
The Index opened weak and went on to touch the lows at 8219, the responsive buyer took control from thereon to move the index back in green and above 8300 only to see the seller back. The index unable to sustain the highs, closed weak at 8239.75, loss of 45.85 points. The broader market though was positive, with 849 advances to 636 declines. Range as per Option Table for expiry is 8200-8400.
  • Call option 8200-8400 added huge 16.46 lacs OI with profit booking seen at 8500 and above strike prices.
  • Put option 8200 added 5.43 lacs OI with short covering seen at 8300 and above strike prices.
  • Nifty Open Interest is at 1,10,24,125 down by 31,29,025, whereas May series added 43.19 lacs with decrease in price, most probably 100% rollover with huge short build-up.
  • Bank Nifty Open Interest is at 10,65,375 down by 2,08,150, whereas May series added 3.02 lacs with small increase in price, most probably 100% rollover with huge long build-up.
  • FII’s sold 2.25 lacs Futures, which includes 34369 contracts long build-up and 43375 contracts short build-up, with increase in net OI by 77744 contracts (includes 249236 longs to 258242 shorts for the day) and the Average Price comes to 8391.19.
  • FII’s Index future open contract as on date is 564980 Longs to 297306 Shorts, net long 267674 down by 9006 contracts.
  • Initial and best support at 8200, with highest OI of 57.01 lacs and below that at 8100 with OI of 36.45 lacs.
  • Initial resistance at 8300, with OI of 43.78 lacs and above that at 8400 with huge OI of 46.68 lacs.
  • Day Range as per Option Table is 8164 - 8341 and as per VIX is 8165 - 8314 with 8256 as the Pivot.
India VIX : 17.24 down by 0.17 points
Call OI : 41903075
Put OI : 29087225
PCR OI : 0.694
SMR : 24.84 (Bearish: So OI prevailed, and saw the CE writers back in hordes, but best support at 8200 stays, resistance starts from 8300 level, a weak open could see a new low for the series...)