Tuesday, July 7, 2015

Option Open Interest for 07-07-2015

Inference
The Index opened flat and stayed in a narrow range for the better part of the day only to see profit booking towards the end to the lows of the day at 8483, but closed above the psychological level of 8500 at 8510.80, small loss of 11.35 points. The broader market though was positive, with 926 advances to 601 declines. The range as per OI table stays at 7900-8700.
  • Call option 8600-9000 added 12.15 lacs OI with short covering seen at 8500 and below strike prices.
  • Put option 8500, 8300 added 6.90 lacs OI with profit booking seen at 8200 and below strike price.
  • Nifty Open Interest is at 1,85,97,950 up by 8,50,350, with small decrease in price, most probably long/short build-up.
  • Bank Nifty Open Interest is at 17,91,625 down by 54,575, with decrease in price, most probably long liquidation.
  • FII’s bought huge 10.09 lacs Futures, which includes 51560 contracts long build-up and 11184 contracts short build-up, with increase in net OI by 62744 contracts (includes 103241 longs to 62865 shorts for the day) and the Average Price comes to 8655.41.
  • FII’s Index future open contract as on date is 552311 Longs to 192469 Shorts, Net Long 359842 contracts.
  • Initial support at 8400, with OI of 33.81 lacs and below that at 8300 with OI of 45.68 lacs.
  • Initial and best resistance still at 8500, with OI of 41.98 lacs and above that at 8600 with OI of 35.29 lacs.
  • Day Range as per Option Table is 8443 - 8586 and as per VIX is 8438 - 8583 with 8519 as the Pivot.
India VIX : 16.31 up by 0.29 points
Call OI : 29620925
Put OI : 42738100
PCR OI : 1.443
SMR : 11.30 (Bullish : A perfect consolidation day, though the index closed in red, but the OI table stays strong with support moving up to 8300 level, resistance at 8500 and above...)