Wednesday, February 10, 2016

Option Open Interest for 10-02-2016

Inference
The index opened weak around 7264 and stayed weak making a low below 7200 for the first time in 20 months but closed just above at 7215.70, still huge loss of 82.50 points. The broader market was weak with 297 advances to 1277 declines. The range has moved down to 7000-7600.
  • Call option 7100-7500 added huge 50.32 lacs OI with profit booking seen at 7600 and above strike prices.
  • Put option 7300-6700 added huge 28.86 lacs OI with short covering seen at 7400 and above strike prices.
  • Nifty Open Interest is at 1,86,63,375 up by 1,04,250, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 27,68,490 up by 2,36,610, with decrease in price, most probably huge short build-up.
  • FII’s sold 2.26 lacs Futures, which includes net 65 contracts long build-up and 9102 contracts short build-up, with increase in net OI by 9167 contracts, includes 51877 longs to 60914 shorts for the day.
  • FII’s Index future open contract as on date is 95310 Longs to 131725 Shorts, Net (-)36415 down by 9037 contracts.
  • Initial and best support stays at 7200, with OI of 50.41 lacs and below that at 7100 with OI of 43.29 lacs.
  • Initial resistance at 7300, with huge OI addition of 17.18 lacs and above that at 7400 with OI of 52.71 lacs.
  • Day Range as per Option Table is 7137 - 7306 and as per VIX is 7131 - 7301 with 7222 as the Pivot.
India VIX : 22.47 up by 0.74 points
Call OI : 47686800
Put OI : 42423600
PCR OI : 0.890
SMR : 25.26 (Bearish : Index has reached the best possible support level, with strong resistance starting from 7400 onwards; sell on rise, as reversal is far away...)