Sunday, November 8, 2015

Option Open Interest for 06-11-2015

Inference
The Index opened flat but saw profit booking to the lows of the day around 7926, but closed flat at 7954.30, small loss of 1.15 points. The broader market was weak, with 510 advances to 988 declines. The range for the series stays at 7800-8300.
  • Call option 8000-8500 added huge 44.04 lacs OI with profit booking seen at 8700 and above strike prices.
  • Put option 8000-7300 added huge 15.61 lacs OI with short covering seen at 8100 and above strike prices.
  • Nifty Open Interest is at 1,86,72,300 down by 4,00,650, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 23,99,970 up by 30,840, with increase in price, most probably long build-up.
  • FII’s sold 2.57 lacs Futures, which includes 11264 contracts long liquidation and 1002 contracts short covering, with decrease in net OI by 12266 contracts, includes 29562 longs to 39824 shorts for the day.
  • FII’s Index future open contract as on date is 176634 Longs to 97264 Shorts, Net Long 79370 down by 10262 contracts.
  • Initial support still at 7900, with OI of 37.16 lacs and below that at 7800 with OI of 45.97 lacs.
  • Initial resistance at 8000, with OI of 29.47 lacs and above that at 8100 with OI of 37.13 lacs.
  • Day Range as per Option Table is 7900 - 8022 and as per VIX is 7873 - 8035 with 7961 as the Pivot.
India VIX : 19.47 up by 0.18 points
Call OI : 40373325
Put OI : 34478850
PCR OI : 0.854
SMR : 22.80 (Bearish : Strong selling by the CE writers had made sure of a weak open with highest OI now at 8200CE, Support still very good at 7800...)