Wednesday, October 7, 2015

Option Open Interest for 07-10-2015

Inference
The Index opened flat and stayed mostly positive with a dip around 8133 was bought with ease. The index closed just below the psychological level of 8200 at 8177.40, gain of 24.50 points. The broader market was positive, with 955 advances to 562 declines. The range for the series stays at 7800-8300.
  • Call option 8500-8700 added 3.90 lacs OI with short covering seen at 8200 and below strike prices.
  • Put option 8300-7800 added huge 21.48 lacs OI with profit booking seen at 7700 strike price.
  • Nifty Open Interest is at 2,12,09,000 up by 8,89,125, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 23,70,050 up by 36,075, with increase in price, most probably long build-up.
  • FII’s bought huge 12.49 lacs Futures, which includes 53843 contracts long build-up and 3882 contracts short build-up, with increase in net OI by 57725 contracts (includes 97585 longs to 47624 shorts for the day) and the Average Price comes to 8543.79.
  • FII’s Index future open contract as on date is 621482 Longs to 362887 Shorts, Net Long 258595 up by huge 49961 contracts.
  • Initial support at 8100, with OI of 38.77 lacs and below that at 8000 with OI of 40.90 lacs.
  • Initial resistance though looking weak but still at 8200, with OI of 37.32 lacs and above that at 8300 with OI of 44.66 lacs.
  • Day Range as per Option Table is 8075 - 8263 and as per VIX is 8095 - 8260 with 8166 as the Pivot.
India VIX : 19.34 up by 0.03 points
Call OI : 33051175
Put OI : 42489750
PCR OI : 1.286
SMR : 15.04 (Bullish : The 8200CE writers for the first time felt the heat and covered a few, the Bulls are on song with 8000 more or less sealed for the time being, and Bullish consolidation stays...)