Wednesday, January 20, 2016

Option Open Interest for 20-01-2016

Inference
The index opened weak around 7357 and stayed weak to move below 7300 with ease and made a low of 7241 but some value buying saw the index close just above 7300 at 7309.30, huge loss of 125.80 points. The broader market was also very weak with 224 advances to 1352 declines. The range for the series has come down to 7300-7800.
  • Call option 7200-7500 added 37.13 lacs OI with profit booking seen at 7600 and above strike prices.
  • Put option 7200-6900 added 25.33 lacs OI with short covering seen at 7400 and above strike prices.
  • Nifty Open Interest is at 2,08,03,575 down by 15,525, whereas Feb series added 4.97 lacs with decrease in price, probably small roll-over with huge short build-up.
  • Bank Nifty Open Interest is at 29,28,330 up by 63,660, whereas Feb series added 0.45 lacs with decrease in price, probably huge short build-up.
  • FII’s sold 0.17 lacs Futures, which includes net 217 contracts long liquidation and 464 contracts short build-up, with increase in net OI by 247 contracts, includes 49625 longs to 50306 shorts for the day.
  • FII’s Index future open contract as on date is 146697 Longs to 163327 Shorts, Net (-)16630 down by 681 contracts.
  • Initial and best support at 7300, with OI of 60.78 lacs and below that at 7200 with OI of 47.83 lacs.
  • Initial resistance at 7400, with OI of 40.20 lacs and above that at 7500 with OI of 50.14 lacs.
  • Day Range as per Option Table is 7237 - 7430 and as per VIX is 7229 - 7390 with 7341 as the Pivot.
India VIX : 20.97 up by 2.54 points
Call OI : 53220600
Put OI : 46107975
PCR OI : 0.866
SMR : 24.20 (Bearish : Weakness all around, but the index was able to close above 7300, with the best support holding on, upside if any will be capped around 7500-7700 range...)