Tuesday, September 1, 2015

Option Open Interest for 01-09-2015

Inference
The Index opened huge gap-down around 7908 and stayed weak throughout the entire session of trade to close around the lows of the day at 7785.85, huge loss of 185.45 points. The broader market was also weak, with 234 advances to 1289 declines. The broader range for the series stays at 7800-8500.
  • Call option 7500-8500 added huge 31.05 lacs OI with small short covering seen at 7400 strike price.
  • Put option 7800-7200 added huge 17.31 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 2,21,22,925 up by 10,700, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 22,17,700 up by 2,75,950, with decrease in price, most probably huge short build-up.
  • FII’s sold 6.64 lacs Futures, which includes 10706 contracts long liquidation and 15847 contracts short build-up, with increase in net OI by 5141 contracts (includes 103998 longs to 130551 shorts for the day) and the Average Price comes to 7675.48.
  • FII’s Index future open contract as on date is 641224 Longs to 280817 Shorts, Net Long 360407 down by 26553 contracts.
  • Initial and best support at 7800, with OI of 47.04 lacs and below that at 7600 with OI of 31.31 lacs.
  • Initial resistance at 8000, with OI of 31.81 lacs and above that at 8200 with OI of 33.20 lacs.
  • Day Range as per Option Table is 7690 - 7947 and as per VIX is 7669 - 7903 with 7820 as the Pivot.
India VIX : 28.72 up by 4.12 points
Call OI : 36032725
Put OI : 39711700
PCR OI : 1.102
SMR : 26.06 (Bearish: A Big Gap-down and the index closed weak below 7800 just at the best possible support level, VIX at 28.72 playing spoilsport for the Bulls with huge swings, Sell on Rise...)