Friday, August 28, 2015

Option Open Interest for 28-08-2015

Inference
The Index opened strong above 8050 and went on to touch the highs of the day at 8092, but weekend profit booking saw the index dip below 8000, but closed just above at 8001.95, gain of 53.00 points. The broader market was flat, with 768 advances to 737 declines. The broader range for the series comes to 7800-8500.
  • Call option 8000-8600 added huge 36.20 lacs OI with small short covering seen at 7800 and below strike prices.
  • Put option 8100-7300 added huge 55.51 lacs OI with small short covering seen at 8200 and above strike prices.
  • Nifty Open Interest is at 2,19,86,375 up by 9,40,650, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 19,65,175 up by 51,825, with decrease in price, most probably short build-up.
  • FII’s bought HUGE 29.07 lacs Futures, which includes 104794 contracts long build-up and 11507 contracts short covering, with increase in net OI by 93287 contracts (includes 178820 longs to 62519 shorts for the day) and the Average Price comes to 7942.17.
  • FII’s Index future open contract as on date is 623152 Longs to 258467 Shorts, Net Long 364685 up by 116301 contracts.
  • Initial support now at 8000, with OI of 43.30 lacs and below that at 7800 with OI of 43.71 lacs.
  • Initial resistance at 8200, with OI of 27.79 lacs and above that at 8500 with OI of 34.34 lacs.
  • Day Range as per Option Table is 7889 - 8140 and as per VIX is 7904 - 8100 with 8018 as the Pivot.
India VIX : 23.33 up by 1.29 points
Call OI : 31063900
Put OI : 33482725
PCR OI : 1.078
SMR : 21.64 (Neutral to Bearish: Strong start to the new series with base building around 8000-7800 level, though high VIX is taking its toll with huge wild swings, better to stay Neutral...)