Wednesday, January 13, 2016

Option Open Interest for 13-01-2016

Inference
The index opened positive around 7558 and up towards 7600 only to be sold off to the panic lows at 7425.80. Value buying/short covering saw the index back in green to close at 7562.40, gain of 52.10 points. The broader market though was weak with 298 advances to 1293 declines. The range for the series stays at 7300-8000.
  • Call option 7200-7500, 7800 added 9.13 lacs OI with profit booking seen at 7600 and above strike prices.
  • Put option 7400-7000 added 8.46 lacs OI with short covering seen at 7500 and above strike prices.
  • Nifty Open Interest is at 2,22,06,975 up by 4,13,550, with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 27,34,080 down by 1,59,540, with increase in price, probably huge short covering.
  • FII’s bought 1.57 lacs Futures, which includes net 3025 contracts long build-up and 3255 contracts short covering, with decrease in net OI by 230 contracts, includes 45755 longs to 39475 shorts for the day.
  • FII’s Index future open contract as on date is 120671 Longs to 164503 Shorts, Net (-)43832 up by 6280 contracts.
  • Initial and best support at 7500, with OI of 57.04 lacs and below that at 7400 with OI of 49.32 lacs.
  • Initial resistance at 7600, with OI of 34.09 lacs and above that at 7700 with OI of 55.25 lacs.
  • Day Range as per Option Table is 7459 - 7614 and as per VIX is 7460 - 7614 with 7526 as the Pivot.
India VIX : 18.35 down by 0.36 points
Call OI : 50263950
Put OI : 43197975
PCR OI : 0.859
SMR : 21.35 (Bearish : The index closed positive with the OI Table balancing around the 7600 level within minor range of 7500-7700, still stays a Sell on Rise...)