Thursday, July 16, 2015

Option Open Interest for 16-07-2015

Inference
The Index opened positive and stayed strong for the entire session of trade making new highs with each passing hour to close near the top at 8608.05, gain of 84.25 points. The broader market was positive, with 851 advances to 652 declines. The range as per OI table has moved up to 8300-8800.
  • Call option 8700, 8900-9000 added 5.43 lacs OI with short covering seen at 8500 and below strike prices.
  • Put option 8700-8500 added huge 32.17 lacs OI with profit booking seen at 8400 and below strike prices.
  • Nifty Open Interest is at 2,12,82,025 up by 7,95,250, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 18,76,150 up by 1,55,075, with increase in price, most probably huge long build-up.
  • FII’s bought huge 15.96 lacs Futures, which includes 55250 contracts long build-up and 8582 contracts short covering, with increase in net OI by 46668 contracts (includes 127619 longs to 63787 shorts for the day) and the Average Price comes to 8725.65.
  • FII’s Index future open contract as on date is 673996 Longs to 226900 Shorts, Net Long 447096 contracts.
  • Initial support up at 8600, with huge OI addition of 11.77 lacs and below that at 8500 with OI of 52.17 lacs.
  • Initial resistance at 8700, with OI of 39.69 lacs and above that at 8800 with OI of 36.63 lacs.
  • Day Range as per Option Table is 8527 - 8660 and as per VIX is 8541 - 8675 with 8589 as the Pivot.
India VIX : 14.78 down by 0.79 points
Call OI : 31251275
Put OI : 48235450
PCR OI : 1.543
SMR : 9.58 (Bullish : The OI table is overly Bullish with best support at 8400 and no worthy resistance in sight though cautious at higher levels expected, remains a Buy on Dips...)