Thursday, January 7, 2016

Option Open Interest for 07-01-2016

Inference
The index opened weak below 7700 and stayed weak on huge selling to close near the lows of the day at 7568.30, huge loss of 172.70 points. The broader market was weak with 194 advances to 1409 declines. The range for the series stays at 7500-8000.
  • Call option 7500-8000 added huge 54.90 lacs OI with profit booking seen at 8100 and above strike prices.
  • Put option 7600-7100 added huge 43.64 lacs OI with short covering seen at 7700 and above strike prices.
  • Nifty Open Interest is at 2,15,77,725 up by 7,60,650, with decrease in price, probably huge short build-up.
  • Bank Nifty Open Interest is at 24,18,480 up by 53,610, with decrease in price, probably huge short build-up.
  • FII’s sold 6.80 lacs Futures, which includes net 8696 contracts long liquidation and 18484 contracts short build-up, with increase in net OI by 9788 contracts, includes 36647 longs to 63827 shorts for the day.
  • FII’s Index future open contract as on date is 122553 Longs to 156541 Shorts, Net (-)33988 down by 27180 contracts.
  • Initial support at 7600, with OI of 41.95 lacs and below that at 7500 with OI of 59.47 lacs.
  • Initial resistance at 7700, with OI of 28.71 lacs and above that at 7800 with OI of 40.02 lacs.
  • Day Range as per Option Table is 7521 - 7666 and as per VIX is 7493 - 7643 with 7600 as the Pivot.
India VIX : 18.96 up by 2.41 points
Call OI : 42366600
Put OI : 39354600
PCR OI : 0.929
SMR : 20.41 (Bearish : Pessimism at its best, Bears seems to feeding on it with huge sell-off for the day, the CE writers have just taken over the OI table, time to stay cautious at lower levels...)