Thursday, January 21, 2016

Option Open Interest for 21-01-2016

Inference
The index opened strong and went up to touch 7398.70 within the first few minutes but higher level selling saw the index close below 7300 for the first time in 18 months at 7276.80, loss of 32.50 points. The broader market though was positive with 839 advances to 719 declines. The range for the series has come down to 7200-7800.
  • Call option 7300-7600 added 17.87 lacs OI with profit booking seen at 7700 and above strike prices.
  • Put option 7300, 7100, 6900-6800 added 6.12 lacs OI with short covering seen at 7400 and above strike prices.
  • Nifty Open Interest is at 1,95,51,300 down by 12,52,275, whereas Feb series added 8.79 lacs with decrease in price, probably long liquidation with roll-over.
  • Bank Nifty Open Interest is at 28,13,370 down by 1,14,960, whereas Feb series added 0.39 lacs with increase in price, probably short covering with small roll-over.
  • FII’s bought 1.59 lacs Futures, which includes net 6929 contracts long build-up and 575 contracts short build-up, with increase in net OI by 7504 contracts, includes 58561 longs to 52207 shorts for the day.
  • FII’s Index future open contract as on date is 153626 Longs to 163902 Shorts, Net (-)10276 up by 6354 contracts.
  • Initial and best support at 7300, with OI of 61.81 lacs and below that at 7200 with OI of 46.90 lacs.
  • Initial resistance at 7400, with OI of 44.24 lacs and above that at 7500 with OI of 55.36 lacs.
  • Day Range as per Option Table is 7204 - 7404 and as per VIX is 7198 - 7356 with 7341 as the Pivot.
India VIX : 20.81 down by 0.16 points
Call OI : 53971050
Put OI : 45799275
PCR OI : 0.849
SMR : 24.52 (Bearish : The index closed below 7300, but the best support still stays around it, a weak open may bring lower levels, upside resistance starts from 7400...)