Tuesday, February 2, 2016

Option Open Interest for 02-02-2016

Inference
The index opened flat to positive and stayed in a narrow range only to be sold-off huge in the latter part of the day to close near the lows at 7455.55, huge loss of 100.40 points. The broader market was weak with 385 advances to 1175 declines. The range has expanded to 7200-7800.
  • Call option 7500-8100 added huge 20.19 lacs OI with short covering seen at 7400 and below strike prices.
  • Put option 7200, 6800 added 5.79 lacs OI with short covering seen at 7400 and above strike prices.
  • Nifty Open Interest is at 1,93,34,400 down by 7,31,175, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 25,75,740 up by 2,10,600, with decrease in price, most probably huge short build-up.
  • FII’s sold 0.22 lacs Futures, which includes net 6653 contracts long liquidation and 5777 contracts short covering, with decrease in net OI by 12430 contracts, includes 38664 longs to 39540 shorts for the day.
  • FII’s Index future open contract as on date is 82099 Longs to 127041 Shorts, Net (-)44942 down by 876 contracts.
  • Initial and best support at 7400, with OI of 42.41 lacs and below that at 7300 with OI of 31.47 lacs.
  • Initial resistance at 7500, with OI of 36.72 lacs and above that at 7600 with OI of 42.33 lacs.
  • Day Range as per Option Table is 7396 - 7562 and as per VIX is 7385 - 7526 with 7487 as the Pivot.
India VIX : 18.04 up by 0.15 points
Call OI : 34350675
Put OI : 34070775
PCR OI : 0.992
SMR : 18.19 (Bearish : The OI table has turned negative with PCR now below 1, but support still around 7400, Huge resistance starts from 7600, Back to Sell on Rise...)