Tuesday, July 28, 2015

Option Open Interest for 28-07-2015

Inference
The Index opened flat to positive and stayed in a narrow range for the better part of the day only to see sell-off to the lows of the day at 8321 only to close a bit higher at 8337.00, loss of 24.00 points. The broader market was weak, with 685 advances to 795 declines. The range as per OI table comes to 8200-8500.
  • Call option 8300-8500 added huge 31.63 lacs OI with profit booking seen at 8600 and above strike prices.
  • Put option 8400-8350, 8200-8100 added huge 11.70 lacs OI with huge short covering seen at 8500 and above strike prices.
  • Nifty Open Interest is at 1,48,66,000 down by 30,93,950, whereas August series added 4.49 lacs with decrease in price, most probably 100% rollover with short build-up.
  • Bank Nifty Open Interest is at 14,88,475 down by 1,80,650, whereas August series added 3.30 lacs with increase in price, most probably 100% rollover with long build-up.
  • FII’s sold 2.30 lacs Futures, which includes 43477 contracts long build-up and 52665 contracts short build-up, with increase in net OI by 96142 contracts (includes 302147 longs to 311335 shorts for the day) and the Average Price comes to 8518.27.
  • FII’s Index future open contract as on date is 698880 Longs to 313635 Shorts, Net Long 385245 contracts.
  • Initial and best support still at 8300, with OI of 46.47 lacs and below that at 8200 with OI of 43.42 lacs.
  • Initial and best resistance at 8400, with highest OI of 61.08 lacs and above that at 8500 with OI of 59.36 lacs.
  • Day Range as per Option Table is 8276 - 8421 and as per VIX is 8268 - 8406 with 8352 as the Pivot.
India VIX : 15.92 up by 0.45 points
Call OI : 41600525
Put OI : 40638800
PCR OI : 0.977
SMR : 16.30 (Bearish : The CE writers have added huge at 8400 level and have the highest OI, could act as resistance till expiry, support getting weaker at 8300...)