Sunday, July 5, 2015

Option Open Interest for 03-07-2015

Inference
The Index opened flat to negative but saw huge buying interest from the start to scale the highs of 8498 but closed just a bit lower at 8484.90, gain of 40.00 points. The broader market was just positive, with 783 advances to 711 declines. The range as per OI table comes to 7900-8700.
  • Call option 8500-9000 added huge 17.16 lacs OI with short covering seen at 8400 and below strike prices.
  • Put option 8600-8000 added huge 27.23 lacs OI with profit booking seen at 7900 and below strike price.
  • Nifty Open Interest is at 1,73,59,875 up by 3,84,500, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 18,35,975 up by 1,46,775, with increase in price, most probably huge long build-up.
  • FII’s bought 3.96 lacs Futures, which includes 16417 contracts long build-up and 569 contracts short build-up, with increase in net OI by 16986 contracts (includes 53720 longs to 37872 shorts for the day) and the Average Price comes to 8594.73.
  • FII’s Index future open contract as on date is 515317 Longs to 162001 Shorts, Net Long 353316 contracts.
  • Initial support at 8400, with OI of 30.80 lacs and below that at 8300 with OI of 41.08 lacs.
  • Initial and best resistance at 8500, with OI of 45.99 lacs and above that at 8700 with OI of 36.59 lacs.
  • Day Range as per Option Table is 8400 - 8544 and as per VIX is 8412 - 8557 with 8469 as the Pivot.
India VIX : 16.31 up by 0.75 points
Call OI : 28716600
Put OI : 41802875
PCR OI : 1.456
SMR : 11.20 (Bullish : The index has closed just below the best resistance and only a Gap-up can crack 8500, though support at lower levels stay strong...)