Sunday, January 10, 2016

Option Open Interest for 08-01-2016

Inference
The index opened strong above 7600 and stayed in a narrow range albeit with a positive bias and closed at 7601.35, gain of 33.05 points. The broader market was strong with 1231 advances to 343 declines. The range for the series stays at 7500-8000.
  • Call option 7400, 7700-8000 added huge 28.55 lacs OI with profit booking seen at 8100 and above strike prices.
  • Put option 7400-7100 added 13.91 lacs OI with short covering seen at 7600 and above strike prices.
  • Nifty Open Interest is at 2,16,14,100 up by 36,375, with increase in price, probably small long build-up.
  • Bank Nifty Open Interest is at 24,07,950 down by 10,530, with increase in price, probably short covering.
  • FII’s sold 1.57 lacs Futures, which includes net 5578 contracts long liquidation and 699 contracts short build-up, with decrease in net OI by 4879 contracts, includes 24937 longs to 31214 shorts for the day.
  • FII’s Index future open contract as on date is 116975 Longs to 157240 Shorts, Net (-)40265 down by 6277 contracts.
  • Initial support stays at 7600, with OI of 37.82 lacs and below that at 7500 with OI of 58.91 lacs.
  • Initial resistance at 7700, with OI of 34.30 lacs and above that at 7800 with OI of 46.49 lacs.
  • Day Range as per Option Table is 7536 - 7676 and as per VIX is 7526 - 7677 with 7606 as the Pivot.
India VIX : 17.80 down by 1.16 points
Call OI : 45406200
Put OI : 40022925
PCR OI : 0.881
SMR : 20.19 (Bearish : Though the index closed in Green, but the OI table stayed weak with huge addition at 7700-8000CE level. Still stays a Sell on Rise till below 7720NS...)