Tuesday, February 9, 2016

Option Open Interest for 09-02-2016

Inference
The index opened weak around 7304 and stayed weak making a low around 7275 but closed just below 7300 at 7298.20, huge loss of 89.05 points. The broader market was weak with 365 advances to 1189 declines. The range stays at 7200-7600.
  • Call option 7200-7400 added huge 27.55 lacs OI with profit booking seen at 7500 and above strike prices.
  • Put option 7300-6700 added huge 38.29 lacs OI with short covering seen at 7400 and above strike prices.
  • Nifty Open Interest is at 1,85,59,125 down by 7,41,000, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 25,31,880 down by 57,090, with decrease in price, most probably long liquidation.
  • FII’s bought 2.45 lacs Futures, which includes net 4920 contracts long build-up and 4882 contracts short covering, with increase in net OI by 38 contracts, includes 46340 longs to 36538 shorts for the day.
  • FII’s Index future open contract as on date is 95245 Longs to 122623 Shorts, Net (-)27378 up by 9802 contracts.
  • Initial and best support at 7200, with OI of 48.39 lacs and below that at 7100 with OI of 40.31 lacs.
  • Initial resistance at 7400, with OI of 41.29 lacs and above that at 7500 with highest OI of 50.43 lacs.
  • Day Range as per Option Table is 7216 - 7386 and as per VIX is 7215 - 7381 with 7299 as the Pivot.
India VIX : 21.73 up by 1.47 points
Call OI : 42900375
Put OI : 40124625
PCR OI : 0.935
SMR : 23.23 (Bearish : Base in OI table has shifted down towards 7200 with ceiling more or less confirmed at 7600, though time to stay cautious at lower levels...)