Sunday, May 31, 2015

Option Open Interest for 29-05-2015

Inference
The Index opened flat to positive around 8327 but made a low of 8305 within the first few minutes only to see huge buying interest to scale 8400 with ease and close near the highs at 8433.65, huge gain of 114.65 points. The broader market was also positive, with 861 advances to 622 declines. The broader range as per Option Table stays at 8000-8800.
  • Call option 8400-9000 added huge 22.60 lacs OI with short covering seen at 8300 and below strike prices.
  • Put option 8500-7700 added huge 30.56 lacs OI with small short covering seen at 8800 and above strike prices.
  • Nifty Open Interest is at 1,58,51,025 up by 28,77,650, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 16,18,300 up by 5,875, with increase in price, most probably long build-up.
  • FII’s bought huge 44.28 lacs Futures, which includes 121570 contracts long build-up and 55551 contracts short covering, with increase in net OI by 66019 contracts (includes 248943 longs to 71822 shorts for the day) and the Average Price comes to 8655.49.
  • FII’s Index future open contract as on date is 392088 Longs to 219913 Shorts, Net Long 177121 contracts.
  • Initial support at 8300, with OI of 30.63 lacs and below that at 8200 with OI of 35.16 lacs.
  • Initial resistance at 8500, with OI of just 22.41 lacs and above that at 8800 with OI of 35.12 lacs.
  • Day Range as per Option Table is 8333 - 8477 and as per VIX is 8360 - 8507 with 8394 as the Pivot.
India VIX : 16.66 down by 0.62 points
Call OI : 27068175
Put OI : 31008875
PCR OI : 1.146
SMR : 14.54 (Bullish: So the desired positive day saw the index scale 8400 and looks set to move higher with not much resistance till 8700 level, the index has turned BUY THE DIPS...)