Monday, November 16, 2015

Option Open Interest for 16-11-2015

Inference
The opened weak around 7733 and after an initial dip saw value buying to move above previous days close and above the psychological level of 7800 to close at 7806.60, gain of 44.35 points. The broader market was positive, with 828 advances to 707 declines. The range for the series has narrowed down to 7700-8000.
  • Call option 7900-8000 added huge 13.48 lacs OI with profit booking seen at 8100 and above strike prices.
  • Put option 7500-7300 added 6.97 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 1,71,52,425 down by 3,98,925, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 24,62,100 up by 38,220, with increase in price, most probably long build-up.
  • FII’s sold 2.73 lacs Futures, which includes net 5295 contracts long liquidation and 5640 contracts short build-up, with increase in net OI by 345 contracts, includes 24407 longs to 35342 shorts for the day.
  • FII’s Index future open contract as on date is 143431 Longs to 141493 Shorts, Net Long 1938 down by 10935 contracts.
  • Initial but weak support at 7800, with OI of 39.56 lacs and below that at 7700 with OI of 58.61 lacs.
  • Initial resistance at 7900, with OI of 43.50 lacs and above that at 8000 with OI of 64.74 lacs.
  • Day Range as per Option Table is 7719 - 7867 and as per VIX is 7734 - 7880 with 7787 as the Pivot.
India VIX : 17.88 up by 0.23 points
Call OI : 49280775
Put OI : 33405150
PCR OI : 0.678
SMR : 26.38 (Bearish : Though the index saw a green close, but the OI table stays weak as before, with huge resistance coming up at 8000 level, stays a sell on rise...)