Monday, September 28, 2015

Option Open Interest for 28-09-2015

Inference
The Index opened flat to positive and stayed in a narrow range but saw huge sell-off in the last hour of trade to close near the lowest point at 7795.70, huge loss of 72.80 points. The broader market was also negative, with 574 advances to 931 declines. The broader range at the start of the series comes to 7500-8300.
  • Call option 7500-8500 added huge 37.77 lacs OI.
  • Put option 7900-7200 added huge 16.12 lacs OI with short covering seen at 8100 strike price.
  • Nifty Open Interest is at 1,85,99,050 up by 2,30,650, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 21,94,975 down by 4,525, with decrease in price, most probably small long liquidation.
  • FII’s sold 0.21 lacs Futures, which includes 3901 contracts long build-up and 4728 contracts short build-up, with increase in net OI by 8629 contracts (includes 36859 longs to 37686 shorts for the day) and the Average Price comes to 8189.35.
  • FII’s Index future open contract as on date is 444828 Longs to 326258 Shorts, Net Long 118570 down by 827 contracts.
  • Initial and best support stays at 7800, with OI of 36.03 lacs and below that at 7500 with OI of 37.03 lacs.
  • Initial resistance at 8000, with OI of 28.74 lacs and above that at 8200 with OI of 32.45 lacs.
  • Day Range as per Option Table is 7723 - 7915 and as per VIX is 7707 - 7884 with 7826 as the Pivot.
India VIX : 21.67 up by 0.79 points
Call OI : 27513675
Put OI : 29255875
PCR OI : 1.063
SMR : 20.38 (Bearish : The Option Table stays neutral going into the RBI policy meet tomorrow, with strong support in the 7800-7500 range, resistance at 8000 and above...)