Monday, February 1, 2016

Option Open Interest for 01-02-2016

Inference
The index opened up around 7590 and went up to touch 7600 but saw selling from higher levels to close in the red at 7563.55, small loss of 7.60 points. The broader market was positive with 853 advances to 698 declines. The range has moved up to 7400-7800.
  • Call option 7500-8100 added huge 21.74 lacs OI with short covering seen at 7400 and below strike prices.
  • Put option 7600-7300 added huge 19.97 lacs OI with profit booking seen at 7200 and below strike prices.
  • Nifty Open Interest is at 2,00,65,575 up by 6,90,000, with no change in price, most probably huge long/short build-up.
  • Bank Nifty Open Interest is at 23,65,140 up by 1,40,660, with decrease in price, most probably huge short build-up.
  • FII’s bought 1.70 lacs Futures, which includes net 7563 contracts long build-up and 745 contracts short build-up, with increase in net OI by 8308 contracts, includes 26592 longs to 19774 shorts for the day.
  • FII’s Index future open contract as on date is 88752 Longs to 132818 Shorts, Net (-)44066 up by 6818 contracts.
  • Initial support stays at 7500, with OI of 34.66 lacs and below that at 7400 with highest OI of 47.71 lacs.
  • Initial resistance at 7600, with OI of 39.62 lacs and above that at 7700 with OI of 32.80 lacs.
  • Day Range as per Option Table is 7482 - 7643 and as per VIX is 7485 - 7627 with 7466 as the Pivot.
India VIX : 17.89 up by 0.65 points
Call OI : 32288700
Put OI : 35796075
PCR OI : 1.109
SMR : 16.14 (Bullish : The OI table stays positive with huge support coming up around 7400 level, resistance starts from 7600, only problem is high VIX...)