Thursday, February 11, 2016

Option Open Interest for 11-02-2016

Inference
The index opened flat to weak around 7203 and stayed weak closing below one psychological level after another to close below 7000 for the first time in 22 months at 6976.35, huge loss of 239.35 points. The broader market was very weak with 121 advances to 1478 declines. The range has moved down again now to 6800-7500.
  • Call option 6900-7500 added huge 69.66 lacs OI with profit booking seen at 7600 and above strike prices.
  • Put option 7000-6600 added huge 28.43 lacs OI with short covering seen at 7100 and above strike prices.
  • Nifty Open Interest is at 1,97,54,250 up by 10,90,875, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 28,27,950 up by 59,460, with decrease in price, most probably huge short build-up.
  • FII’s bought 2.14 lacs Futures, which includes net 10432 contracts long build-up and 1867 contracts short build-up, with increase in net OI by 12299 contracts, includes 66405 longs to 57840 shorts for the day.
  • FII’s Index future open contract as on date is 105742 Longs to 133592 Shorts, Net (-)27850 up by 8565 contracts.
  • Initial and best support at 7000, with OI of 52.46 lacs and below that at 6800 with OI of 39.36 lacs.
  • Initial resistance at 7100, with huge OI addition of 15.75 lacs and above that at 7200 with OI of 34.87 lacs.
  • Day Range as per Option Table is 6933 - 7130 and as per VIX is 6882 - 7071 with 7048 as the Pivot.
India VIX : 25.97 up by 3.50 points
Call OI : 53057325
Put OI : 42904350
PCR OI : 0.809
SMR : 32.12 (Bearish : First close below 7000 after 22 months, but the best support stays at 7000, upside resistance of note from 7200 level, technically weak but sell only on rise...)