Wednesday, September 2, 2015

Option Open Interest for 02-09-2015

Inference
The Index opened huge gap-down around 7856 but saw selling pressure from the onset to dip more than 160 points from the top and closed near the lows at 7717.00, huge loss of 68.85 points. The broader market was also weak, with 687 advances to 821 declines. The broader range for the series is now at 7500-8200.
  • Call option 7400-8500 added huge 24.34 lacs OI.
  • Put option 7600-7200 added huge 13.92 lacs OI with short covering seen at 7700 and above strike prices.
  • Nifty Open Interest is at 2,27,81,175 up by 6,58,250, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 26,54,675 up by 4,36,975, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 15.50 lacs Futures, which includes 15109 contracts long liquidation and 46893 contracts short build-up, with increase in net OI by 31784 contracts (includes 121199 longs to 183201 shorts for the day) and the Average Price comes to 7868.31.
  • FII’s Index future open contract as on date is 626115 Longs to 327710 Shorts, Net Long 298405 down by huge 62002 contracts.
  • Initial support at 7600, with OI of 31.49 lacs and below that at 7500 with OI of 38.99 lacs.
  • Initial resistance at 8000, with OI of 34.85 lacs and above that at 8200 with OI of 37.49 lacs.
  • Day Range as per Option Table is 7627 - 7875 and as per VIX is 7609 - 7825 with 7760 as the Pivot.
India VIX : 26.65 down by 2.07 points
Call OI : 38812900
Put OI : 41233575
PCR OI : 1.062
SMR : 25.09 (Bearish with Caution : No respite for the Bulls with the gap-up being sold with ease, viable support around 7600, resistance still far away around 8000, Stay cautious at lower levels...)