Monday, November 9, 2015

Option Open Interest for 09-11-2015

Inference
The Index opened very weak on the back of unfavourable Bihar election result at 7788 but saw some value buying to close above 7900 at 7915.20, loss of 39.10 points. The broader market though was positive, with 841 advances to 635 declines. The range for the series stays at 7700-8200.
  • Call option 7600-8200 added huge 38.39 lacs OI with profit booking seen at 8300 and above strike prices.
  • Put option 7700-7600 added 9.63 lacs OI with short covering seen at 7800 and above strike prices.
  • Nifty Open Interest is at 1,79,32,575 down by 7,39,725, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 24,18,780 up by 18,810, with decrease in price, most probably short build-up.
  • FII’s sold 6.44 lacs Futures, which includes net 5342 contracts long liquidation and 20407 contracts short build-up, with increase in net OI by 15065 contracts, includes 50871 longs to 76620 shorts for the day.
  • FII’s Index future open contract as on date is 171292 Longs to 117671 Shorts, Net Long 53621 down by huge 25749 contracts.
  • Initial support stays at 7900, with OI of 34.33 lacs and below that at 7800 with OI of 40.83 lacs.
  • Initial resistance at 8000, with OI of 30.36 lacs and above that at 8100 with OI of 47.11 lacs.
  • Day Range as per Option Table is 7815 - 7959 and as per VIX is 7845 - 7986 with 7875 as the Pivot.
India VIX : 17.04 down by 2.43 points
Call OI : 41925450
Put OI : 32120175
PCR OI : 0.766
SMR : 22.24 (Bearish : The CE writers are in no mood to give any respite with huge addition at 7800-8200 level with 8200 now resistance for the series, best support still around 7800...)