Thursday, August 6, 2015

Option Open Interest for 06-08-2015

Inference
The Index opened positive but stayed in a narrow range oscillating around the previous day’s close only to break out above 8600 but closed just a bit lower at 8588.65, gain of 20.70 points. The broader market though was weak, with 664 advances to 856 declines. The broader range stays at 8200-8800.
  • Call option 8600-9000 added 6.63 lacs OI with short covering seen at 8500 and below strike prices.
  • Put option 8700-8200 added huge 21.27 lacs OI with small profit booking seen at 8100 and below strike prices
  • Nifty Open Interest is at 1,68,81,375 up by 2,28,875, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 20,85,600 up by 70,875, with increase in price, most probably huge long build-up.
  • FII’s bought huge 2.51 lacs Futures, which includes 8806 contracts long build-up and 1216 contracts short covering, with increase in net OI by 7590 contracts (includes 34099 longs to 24077 shorts for the day) and the Average Price comes to 9068.34.
  • FII’s Index future open contract as on date is 521620 Longs to 129155 Shorts, Net Long 392465 contracts.
  • Initial support at 8500, with OI of 37.70 lacs and below that at 8400 with OI of 45.66 lacs.
  • Initial resistance still around 8600, with OI of 33.04 lacs and above that at 8700 with OI of 38.92 lacs.
  • Day Range as per Option Table is 8521 - 8646 and as per VIX is 8522 - 8655 with 8582 as the Pivot.
India VIX : 14.73 up by 0.06 points
Call OI : 29344275
Put OI : 33921150
PCR OI : 1.156
SMR : 12.74 (Bullish : Another strong showing by the PE writers and now 8400 looks like a superb support, resistance of note coming up around 8800, Stays Buy on Dips...)