Thursday, September 3, 2015

Option Open Interest for 03-09-2015

Inference
The Index opened huge gap-up around 7774 and for a change stayed positive throughout the entire session of trade and closed strong at 7823.00, huge gain of 106.00 points. The broader market was also strong, with 1099 advances to 406 declines. The broader range for the series stays at 7500-8200.
  • Call option 7800-8500 added huge 17.29 lacs OI with small short covering seen at 7500 and lower strike prices.
  • Put option 7900-7200 added huge 22.61 lacs OI with short covering seen at 8000 and above strike prices.
  • Nifty Open Interest is at 2,26,88,775 down by 92,400, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 23,87,300 down by 2,67,375, with increase in price, most probably huge short covering.
  • FII’s bought 5.09 lacs Futures, which includes 22486 contracts long build-up and 2109 contracts short build-up, with increase in net OI by 24595 contracts (includes 80692 longs to 60315 shorts for the day) and the Average Price comes to 7962.81.
  • FII’s Index future open contract as on date is 648601 Longs to 329819 Shorts, Net Long 318782 up 20377 contracts.
  • Initial and best support at 7800, with OI of 46.02 lacs and below that at 7500 with OI of 42.14 lacs.
  • Initial resistance at 8000, with OI of 34.86 lacs and above that at 8200 with OI of 44.62 lacs.
  • Day Range as per Option Table is 7694 - 7933 and as per VIX is 7724 - 7922 with 7808 as the Pivot.
India VIX : 24.12 down by 2.53 points
Call OI : 40444725
Put OI : 43565550
PCR OI : 1.077
SMR : 22.39 (Bearish to Neutral: A nice corrective bounce, but still far away from reversal though support getting better at 7800 level, initial resistance starts from 8000...)