Wednesday, December 16, 2015

Option Open Interest for 16-12-2015

Inference
The index opened positive and saw huge short covering rally to end the day near the highs at 7750.90, gain of 50.00 points. The broader market was positive, with 832 advances to 702 declines. The range for series is 7500-8200.
  • Call option 7800-8000, 8200-8300 added huge 32.82 lacs OI with short covering seen at 7700 and below strike prices.
  • Put option 7900-7500 added 9.11 lacs OI with profit booking seen at 7400 and below strike prices.
  • Nifty Open Interest is at 1,95,05,175 down by 7,61,475, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 23,82,090 down by 1,83,930, with increase in price, most probably huge short covering.
  • FII’s bought 0.47 lacs Futures, which includes net 4161 contracts long liquidation and 6044 contracts short covering, with decrease in net OI by 10205 contracts, includes 28333 longs to 26450 shorts for the day.
  • FII’s Index future open contract as on date is 112506 Longs to 155291 Shorts, Net (-)42785 up by 1883 contracts.
  • Initial super support at 7700, with OI of 33.66 lacs and below that at 7600 with OI of 54.05 lacs.
  • Initial resistance at 7800, with OI of 53.98 lacs and above that at 7900 with OI of 51.57 lacs.
  • Day Range as per Option Table is 7684 - 7812 and as per VIX is 7683 - 7819 with 7748 as the Pivot.
India VIX : 16.73 down by 0.61 points
Call OI : 57704225
Put OI : 51614925
PCR OI : 0.894
SMR : 18.70 (Bullish : A positive day but the CE writers have added huge at 7800CE level, which could act as hurdle moving forward, support getting better at 7600...)