Thursday, July 23, 2015

Option Open Interest for 23-07-2015

Inference
The Index opened flat to positive and went on to touch the high of the day at 8655. Huge unwinding from the highs saw the index dip below the psychological level of 8600 and closed near the lows at 8589.80, loss of 43.70 points. The broader market was flat, with 768 advances to 736 declines. The range as per OI table has boiled down to 8500-8700.
  • Call option 8600-8700, 8900-9000 added huge 12.95 lacs OI with profit booking seen at 9100 and above strike prices.
  • Put option 8550, 8200 added 2.67 lacs OI with huge short covering seen at 8600 and above strike prices.
  • Nifty Open Interest is at 2,06,77,450 down by 7,52,375, whereas August series added 2.63 lacs with decrease in price, most probably small rollover with huge long liquidation.
  • Bank Nifty Open Interest is at 18,18,000 up by 1,500, whereas August series added 0.65 lacs with decrease in price, most probably short build-up.
  • FII’s sold huge 5.60 lacs Futures, which includes 2847 contracts long liquidation and 19550 contracts short build-up, with increase in net OI by 16703 contracts (includes 61174 longs to 83571 shorts for the day) and the Average Price comes to 8742.97.
  • FII’s Index future open contract as on date is 699859 Longs to 232629 Shorts, Net Long 467230 contracts.
  • Initial and best support at 8500, with highest OI of 61.93 lacs and below that at 8400 with OI of 46.30 lacs.
  • Initial and best resistance at 8700, with OI of 51.14 lacs and above that at 8800 with OI of 44.46 lacs.
  • Day Range as per Option Table is 8531 - 8672 and as per VIX is 8520 - 8660 with 8606 as the Pivot.
India VIX : 15.52 up by 0.39 points
Call OI : 32845950
Put OI : 48751125
PCR OI : 1.484
SMR : 10.46 (Neutral : Higher level Selling/Profit booking is taking its toll on the index and the PE levels for a change saw huge short covering though best support still at 8500, resistance looking ominous at 8700...)