Friday, January 29, 2016

Option Open Interest for 29-01-2016

Inference
The index opened flat to negative but saw huge buying interest from the morning itself making newer highs with each hour to close near the top of the day at 7563.55, huge gain of 138.90 points. The broader market was also strong with 1021 advances to 541 declines. The range stays at 7200-7600.
  • Call option 7500-8100 added huge 32.61 lacs OI with short covering seen at 7300 strike price.
  • Put option 7600-6800 added huge 46.83 lacs OI with small short covering seen at 7800 and above strike prices.
  • Nifty Open Interest is at 1,93,75,575 up by 5,47,725, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 21,24,480 up by 18,780, with increase in price, most probably long build-up.
  • FII’s bought 5.98 lacs Futures, which includes net 20495 contracts long build-up and 3432 contracts short covering, with increase in net OI by 17063 contracts, includes 53481 longs to 29554 shorts for the day.
  • FII’s Index future open contract as on date is 81189 Longs to 132073 Shorts, Net (-)50884 up by 23927 contracts.
  • Initial support at 7500, with huge OI addition of 8.08 lacs and below that at 7400 with highest OI of 43.70 lacs.
  • Initial resistance at 7600, with OI of 36.47 lacs and above that at 7700 with OI of 32.86 lacs.
  • Day Range as per Option Table is 7441 - 7612 and as per VIX is 7495 - 7632 with 7434 as the Pivot.
India VIX : 17.24 down by 0.66 points
Call OI : 30032850
Put OI : 34284975
PCR OI : 1.142
SMR : 15.10 (Bullish : The PE writers are back with the new series taking control of 7400 level, upside resistance coming up around 7600, turning out to be Buy on Dips...)