Tuesday, September 29, 2015

Option Open Interest for 29-09-2015

Inference
The Index opened weak at 7725 and went on to touch the lows at 7691, but a 50 bps rate cut saw the index gallop away to the high of the day around 7933 but closed much lower at 7843.30, gain of 47.60 points. The broader market though was negative, with 672 advances to 807 declines. The range for the series stays at 7500-8300.
  • Call option 7400-8300 added huge 33.03 lacs OI with small profit booking seen at 8400 strike price.
  • Put option 8000-7200 added huge 27.83 lacs OI with short covering seen at 8100 and above strike prices.
  • Nifty Open Interest is at 1,88,24,900 up by 2,25,850, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 25,51,225 up by 3,56,250, with increase in price, most probably huge long build-up.
  • FII’s sold 7.66 lacs Futures, which includes 12632 contracts long liquidation and 17992 contracts short build-up, with increase in net OI by 5360 contracts (includes 97908 longs to 128532 shorts for the day) and the Average Price comes to 8395.48.
  • FII’s Index future open contract as on date is 432196 Longs to 344250 Shorts, Net Long 87946 down by 30624 contracts.
  • Initial support stays at 7800, with OI of 36.45 lacs and below that at 7500 with OI of 41.20 lacs.
  • Initial resistance at 8000, with OI of 37.02 lacs and above that at 8200 with OI of 37.35 lacs.
  • Day Range as per Option Table is 7720 - 7933 and as per VIX is 7755 - 7932 with 7820 as the Pivot.
India VIX : 21.57 down by 0.10 points
Call OI : 31159275
Put OI : 33527925
PCR OI : 1.076
SMR : 20.05 (Neutral : The index moved up more than 200 points from the lows on the back of 50 bps rate cut, but closed just 47.6 points up, the OI table stays neutral...)