Wednesday, September 16, 2015

Option Open Interest for 16-09-2015

Inference
The Index opened strong around 7887 and stayed in a narrow range, scaling 7900 with ease but closed just lower at 7899.15, huge gain of 70.05 points. The broader market though was weak, with 717 advances to 779 declines. The broader range for the series is now at 7600-8200.
  • Call option 7800, 8200, 8400 added 9.61 lacs OI with profit booking seen at 8300 and above strike prices.
  • Put option 7900-7500 added huge 18.05 lacs OI with profit booking seen at 7600 and 7400 strike prices.
  • Nifty Open Interest is at 2,15,54,700 down by 6,88,400, whereas Oct series added 1.77 lacs with increase in price, most probably small roll-over with huge short covering.
  • Bank Nifty Open Interest is at 23,55,375 down by 1,54,500, whereas Oct series added just 0.11 lacs with increase in price, most probably huge short covering.
  • FII’s sold 0.35 lacs Futures, which includes 16757 contracts long liquidation and 15375 contracts short covering, with decrease in net OI by 32132 contracts (includes 72048 longs to 73430 shorts for the day) and the Average Price comes to 8197.51.
  • FII’s Index future open contract as on date is 661780 Longs to 380900 Shorts, Net Long 280880 down by 1382 contracts.
  • Initial and best support at 7800, with highest OI of 50.80 lacs and below that at 7600 with OI of 42.79 lacs.
  • Initial resistance still at 7900, with OI of 32.64 lacs and above that at 8000 with OI of 43.59 lacs.
  • Day Range as per Option Table is 7795 - 7987 and as per VIX is 7808 - 7990 with 7889 as the Pivot.
India VIX : 22.00 down by 1.74 points
Call OI : 47789675
Put OI : 50352500
PCR OI : 1.054
SMR : 20.88 (Bullish : The index gave a strong close with 7800PE now having the highest OI in the table, Friday could see huge swing with resistance placed exactly at 8000...)