Monday, January 18, 2016

Option Open Interest for 18-01-2016

Inference
The index opened flat to negative and stayed weak for the major part of the day to close near the lows at 7351.00, huge loss of 86.80 points. The broader market was very weak with 158 advances to 1451 declines. The range for the series stays at 7300-8000.
  • Call option 7200-7600 added huge 38.72 lacs OI with profit booking seen at 7700 and above strike prices.
  • Put option 7400-6900 added 18.46 lacs OI with short covering seen at 7500 and above strike prices.
  • Nifty Open Interest is at 2,12,52,375 down by 13,78,725, with decrease in price, probably huge long liquidation.
  • Bank Nifty Open Interest is at 29,46,270 down by 25,650, with decrease in price, probably long liquidation.
  • FII’s bought 4.68 lacs Futures, which includes net 15087 contracts long build-up and 3620 contracts short covering, with increase in net OI by 11467 contracts, includes 45488 longs to 26781 shorts for the day.
  • FII’s Index future open contract as on date is 144617 Longs to 167845 Shorts, Net (-23228 up by 18707 contracts.
  • Initial and best support at 7300, with OI of 67.87 lacs and below that at 7200 with OI of 43.31 lacs.
  • Initial resistance at 7500, with OI of 43.83 lacs and above that at 7600 with OI of 52.66 lacs.
  • Day Range as per Option Table is 7291 - 7463 and as per VIX is 7273 - 7429 with 7384 as the Pivot.
India VIX : 20.23 up by 0.81 points
Call OI : 54327600
Put OI : 45126900
PCR OI : 0.831
SMR : 24.35 (Bearish : The index has reached around the best support level with oversold readings, and SMR at 24.35, stay cautious at lower level...)