Tuesday, December 8, 2015

Option Open Interest for 08-12-2015

Inference
The index opened weak around 7738 and after a small initial upmove saw huge un-winding to move below 7700 but close just above at 7701.70, loss of 63.70 points. The broader market was weak, with 362 advances to 1189 declines. The range for series stays at 7500-8200.
  • Call option 7600-8000 added huge 25.46 lacs OI with profit booking seen at 8100 and above strike prices.
  • Put option 7800-7300 added 11.36 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 1,92,65,025 down by 89,925, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 21,43,980 up by 10,590, with decrease price, most probably short build-up.
  • FII’s sold 0.77 lacs Futures, which includes net 3633 contracts long liquidation and 543 contracts short covering, with decrease in net OI by 4176 contracts, includes 18596 longs to 21686 shorts for the day.
  • FII’s Index future open contract as on date is 118031 Longs to 137549 Shorts, Net (-)19518 down by 3090 contracts.
  • Initial support stays at 7700, with OI of 29.96 lacs and below that at 7500 with OI of 55.67 lacs.
  • Initial resistance at 7800, with OI of 29.79 lacs and above that at 8000 with highest OI of 65.81 lacs.
  • Day Range as per Option Table is 7659 - 7773 and as per VIX is 7637 - 7766 with 7719 as the Pivot.
India VIX : 15.97 up by 0.10 points
Call OI : 50409200
Put OI : 42362300
PCR OI : 0.840
SMR : 19.00 (Bearish : 8000 for the time being is ceiling for the series whereas base seems like 7500, Upside if any will be sold with initial resistance coming up around 7800...)