Wednesday, January 6, 2016

Option Open Interest for 06-01-2016

Inference
The index opened flat but saw selling pressure with each highs being sold with ease to close around the lows of the day at 7741.00, loss of 43.65 points. The broader market was weak with 622 advances to 957 declines. The range for the series has narrowed down to 7500-8000.
  • Call option 7500-8100 added huge 25.89 lacs OI with profit booking seen at 8200 and above strike prices.
  • Put option 7700-7200 added huge 14.86 lacs OI with short covering seen at 7800 and above strike prices.
  • Nifty Open Interest is at 2,08,17,075 up by 99,375, with decrease in price, probably short build-up.
  • Bank Nifty Open Interest is at 23,64,870 up by 1,07,460, with decrease in price, probably huge short build-up.
  • FII’s sold 2.38 lacs Futures, which includes net 8711 contracts long liquidation and 820 contracts short build-up, with decrease in net OI by 7891 contracts, includes 22249 longs to 31780 shorts for the day.
  • FII’s Index future open contract as on date is 131249 Longs to 138057 Shorts, Net (-)6808 down by 9531 contracts.
  • Initial good support at 7700, with OI of 48.66 lacs and below that at 7500 with OI of 56.59 lacs.
  • Initial resistance at 7800, with OI of 30.85 lacs and above that at 7900 with OI of 38.94 lacs.
  • Day Range as per Option Table is 7691 - 7814 and as per VIX is 7674 - 7808 with 7754 as the Pivot.
India VIX : 16.55 down by 0.15 points
Call OI : 37943550
Put OI : 35820375
PCR OI : 0.944
SMR : 17.53 (Bearish : The level of 8000 is now resistance for the series, whereas best support at 7500, the index may stay in a range with Sell on rise the order of the day...)