Tuesday, September 8, 2015

Option Open Interest for 08-09-2015

Inference
The Index opened positive and after an initial dips to the lows of the day saw the responsive buyer take control to move the index back above 7600 and 7700 but close just a bit lower at 7688.25, huge gain of 129.45 points. The broader market was also positive, with 912 advances to 584 declines. The broader range for the series stays at 7500-8200.
  • Call option 7700-7800 added 8.70 lacs OI with profit booking seen at 7900 and above strike prices.
  • Put option 7700, 7300-7200 added 4.09 lacs OI with profit booking seen at 7500 strike price.
  • Nifty Open Interest is at 2,37,45,025 up by 1,72,200, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 23,90,100 down by 1,98,075, with increase in price, most probably huge short covering.
  • FII’s bought 8.53 lacs Futures, which includes 33340 contracts long build-up and 779 contracts short covering, with increase in net OI by 32561 contracts (includes 95283 longs to 61164 shorts for the day) and the Average Price comes to 7852.75.
  • FII’s Index future open contract as on date is 669462 Longs to 384052 Shorts, Net Long 285410 up by 34119 contracts.
  • Initial support at 7600, with OI of 33.98 lacs and below that at 7500 with OI of 46.63 lacs.
  • Initial resistance at 7800, with OI of 31.38 lacs and above that at 8000 with OI of 36.62 lacs.
  • Day Range as per Option Table is 7539 - 7782 and as per VIX is 7589 - 7787 with 7650 as the Pivot.
India VIX : 24.57 down by 1.78 points
Call OI : 45109700
Put OI : 46144400
PCR OI : 1.023
SMR : 24.02 (Neutral : Though the index notched up a century, the OI table was not in sync, best support stays at 7500 but stay cautious at higher levels...)