Sunday, January 17, 2016

Option Open Interest for 15-01-2016

Inference
The index opened up around 7561 but after staying in a narrow range for the initial few hours saw huge selling pressure to end below 7500 for the first time in 18 months and closed at 7437.80, huge loss of 99.00 points. The broader market was very weak with 143 advances to 1450 declines. The range for the series stays at 7300-8000.
  • Call option 7400-7700 added huge 22.74 lacs OI with profit booking seen at 7800 and above strike prices.
  • Put option 7400-7000 added 4.70 lacs OI with short covering seen at 7500 and above strike prices.
  • Nifty Open Interest is at 2,26,31,100 up by 2,65,500, with decrease in price, probably huge short build-up.
  • Bank Nifty Open Interest is at 29,71,920 up by 1,63,230, with decrease in price, probably huge short build-up.
  • FII’s bought 0.84 lacs Futures, which includes net 7023 contracts long build-up and 3646 contracts short build-up, with increase in net OI by 10669 contracts, includes 37518 longs to 34141 shorts for the day.
  • FII’s Index future open contract as on date is 129530 Longs to 171465 Shorts, Net (-)41935 up by 3377 contracts.
  • Initial support now at 7400, with OI of 53.58 lacs and below that at 7300 with OI of 64.96 lacs.
  • Initial resistance at 7600, with OI of 44.06 lacs and above that at 7700 with highest OI of 67.52 lacs.
  • Day Range as per Option Table is 7383 - 7553 and as per VIX is 7362 - 7513 with 7477 as the Pivot.
India VIX : 19.42 up by 0.81 points
Call OI : 51849675
Put OI : 44891250
PCR OI : 0.866
SMR : 22.43 (Bearish : The best resistance is now at 7700 and support around 7400-7300, with the index just near the lower range, stay cautious with shorts at lower levels...)