Wednesday, December 9, 2015

Option Open Interest for 09-12-2015

Inference
A repeat of the last day with index opening weak and after making a high around 7703 went down with each passing hour to close near the lows of the day just above the psychological level of 7600 at 7612.50, loss of 89.20 points. The broader market was weak, with 188 advances to 1375 declines. The range for series is now at 7500-8100.
  • Call option 7500-8000 added huge 40.84 lacs OI with profit booking seen at 8100 and above strike prices.
  • Put option 7700-7200 added huge 28.21 lacs OI with short covering seen at 7800 and above strike prices.
  • Nifty Open Interest is at 1,95,58,275 up by 2,93,250, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 23,51,700 up by 2,07,720, with decrease price, most probably huge short build-up.
  • FII’s sold 0.40 lacs Futures, which includes net 4251 contracts long build-up and 5844 contracts short build-up, with increase in net OI by 10095 contracts, includes 33997 longs to 35590 shorts for the day.
  • FII’s Index future open contract as on date is 122282 Longs to 143393 Shorts, Net (-)21111 down by 1593 contracts.
  • Initial and good support at 7600, with OI of 38.26 lacs and below that at 7500 with OI of 64.47 lacs.
  • Initial resistance at 7800, with OI of 37.91 lacs and above that at 8000 with highest OI of 71.95 lacs.
  • Day Range as per Option Table is 7576 - 7695 and as per VIX is 7546 - 7679 with 7641 as the Pivot.
India VIX : 16.73 up by 0.76 points
Call OI : 53574275
Put OI : 44562950
PCR OI : 0.832
SMR : 20.11 (Bearish : Another day when the CE writers had the better of the exchanges with 7800 now a strong resistance, support still stays around 7500, Stay cautious at lower levels...)

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