Thursday, July 9, 2015

Option Open Interest for 09-07-2015

Inference
The Index opened flat and went on to make the highs of the day at 8400, but selling from higher level saw the index back in red and closed near the lows of the day at 8328.55, loss of 34.50 points. The broader market though was positive, with 827 advances to 673 declines. The range as per OI table stays at 7900-8700.
  • Call option 8300-8800 added huge 25.40 lacs OI with profit booking seen at 8900 and above strike prices.
  • Put option 8300, 7700 added 3.97 lacs OI with short covering seen at 8400 and above strike price.
  • Nifty Open Interest is at 1,78,69,225 down by 3,20,650, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 16,12,850 down by 65,600, with increase in price, most probably small short covering.
  • FII’s sold 14.23 lacs Futures, which includes 38061 contracts long liquidation and 18852 contracts short build-up, with decrease in net OI by 19209 contracts (includes 49792 longs to 106705 shorts for the day) and the Average Price comes to 8435.00.
  • FII’s Index future open contract as on date is 506850 Longs to 220301 Shorts, Net Long 286549 contracts.
  • Initial and good support at 8300, with OI of 48.00 lacs and below that at 8200 with OI of 45.31 lacs.
  • Initial strong resistance at 8400, with OI of 46.67 lacs and above that at 8500 with OI of 48.53 lacs.
  • Day Range as per Option Table is 8271 - 8420 and as per VIX is 8253 - 8405 with 8351 as the Pivot.
India VIX : 17.44 up by 0.35 points
Call OI : 33550500
Put OI : 41111425
PCR OI : 1.225
SMR : 14.23 (Bearish : The OI table has started to turn weak with huge resistance building up around 8400-8500, Support stays at 8300-8200, some range bound days possible...)