Wednesday, November 11, 2015

Option Open Interest for 10-11-2015

Inference
The Index opened weak and saw huge selling pressure from the onset to break one psychological level after another to close near the lows at 7783.35, huge loss of 131.85 points. The broader market was weak, with 493 advances to 1009 declines. The range for the series stays at 7700-8200.
  • Call option 7600-8300 added huge 57.05 lacs OI with profit booking seen at 8400 and above strike prices.
  • Put option 7700-7300 added huge 22.72 lacs OI with short covering seen at 7800 and above strike prices.
  • Nifty Open Interest is at 1,77,37,575 down by 1,95,000, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 24,69,930 up by 51,150, with decrease in price, most probably short build-up.
  • FII’s sold 4.62 lacs Futures, which includes net 12265 contracts long liquidation and 6196 contracts short build-up, with decrease in net OI by 6069 contracts, includes 31234 longs to 49695 shorts for the day.
  • FII’s Index future open contract as on date is 159027 Longs to 123867 Shorts, Net Long 35160 down by 18461 contracts.
  • Initial support at 7800, with OI of 38.96 lacs and below that at 7700 with OI of 53.86 lacs.
  • Initial resistance at 7900, with OI of 32.73 lacs and above that at 8000 with OI of 45.29 lacs.
  • Day Range as per Option Table is 7730 - 7882 and as per VIX is 7715 - 7852 with 7814 as the Pivot.
India VIX : 16.83 down by 0.21 points
Call OI : 46743075
Put OI : 32446875
PCR OI : 0.694
SMR : 24.25 (Bearish : The CE writers are on TOP with PCR at 0.694 the lowest in the last few months, though the index is near the best support, Sell only on rise till 7949NF is not taken out...)