Wednesday, November 18, 2015

Option Open Interest for 18-11-2015

Inference
The index opened flat to negative and after staying within a narrow range saw huge breakdown to close near the lows of the day at 7731.80, huge loss of 105.75 points. The broader market was weak, with 516 advances to 1012 declines. The range for the series stays at 7700-8000.
  • Call option 7700-8000 added 32.79 lacs OI with profit booking seen at 8100 and above strike prices.
  • Put option 7700-7300 added huge 19.63 lacs OI with short covering seen at 7800 and above strike prices.
  • Nifty Open Interest is at 1,76,48,925 up by 6,52,500, whereas Dec series added 3.07 lacs with decrease in price, most probably huge short build-up in both series.
  • Bank Nifty Open Interest is at 25,84,170 up by 1,25,670, whereas Dec series added 0.54 lacs with decrease in price, most probably huge short build-up.
  • FII’s bought 0.72 lacs Futures, which includes net 7792 contracts long build-up and 4911 contracts short build-up, with increase in net OI by 12703 contracts, includes 31212 longs to 28331 shorts for the day.
  • FII’s Index future open contract as on date is 149167 Longs to 146409 Shorts, Net Long 2758 up by 2881 contracts.
  • Initial and best support at 7700, with OI of 60.74 lacs.
  • Initial resistance at 7800, with OI of 44.37 lacs and above that at 7900 with OI of 50.70 lacs.
  • Day Range as per Option Table is 7687 - 7831 and as per VIX is 7661 - 7802 with 7767 as the Pivot.
India VIX : 17.42 up by 0.45 points
Call OI : 50031900
Put OI : 34270725
PCR OI : 0.685
SMR : 25.43 (Bearish : The CE writers have been ruthless for the series, with 8000 now the ceiling, the index is near the last best support at 7700, sellers need to be cautious at lower levels...)