Monday, December 21, 2015

Option Open Interest for 21-12-2015

Inference
The index opened weak around 7745 but saw buying interest from the morning itself went up with each passing hour to close near the highs at 7834.45, huge gain of 72.50 points. The broader market was strong, with 1113 advances to 454 declines. The range for series has come down to 7500-8000.
  • Call option did not any OI whereas profit booking seen at 7900 and above strike prices.
  • Put option 7900-7500 added huge 12.86 lacs OI with profit booking seen at 7400 strike price.
  • Nifty Open Interest is at 1,85,39,100 down by 88,875, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 20,84,670 down by 1,20,450, with increase in price, most probably huge short covering.
  • FII’s bought 0.13 lacs Futures, which includes net 1691 contracts long liquidation and 2206 contracts short covering, with decrease in net OI by 3897 contracts, includes 15597 longs to 15082 shorts for the day.
  • FII’s Index future open contract as on date is 103629 Longs to 148996 Shorts, Net (-)45367 up by 515 contracts.
  • Initial super support at 7700, with OI of 41.66 lacs and below that at 7600 with OI of 46.60 lacs.
  • Initial strong resistance at 7900, with OI of 50.12 lacs and above that at 8000 with highest OI of 81.12 lacs.
  • Day Range as per Option Table is 7743 - 7880 and as per VIX is 7776 - 7893 with 7803 as the Pivot.
India VIX : 14.23 down by 0.26 points
Call OI : 53162100
Put OI : 48050725
PCR OI : 0.904
SMR : 15.74 (Bullish : The index stays within the range of 7700-7900 and based on OI may stay within the range, volume could be on the lower side...)