Sunday, February 14, 2016

Option Open Interest for 12-02-2016

Inference
The index opened positive above 7000 but saw huge sell-off to the lows of the day at 6869, value buying around the lows saw the index back in green but closed just below 7000 at 6980.95, small gain of 4.60 points. The broader market was negative with 493 advances to 1076 declines. The range stays at 6800-7500.
  • Call option 6700-7300 added huge 47.49 lacs OI with profit booking seen at 7400 and above strike prices.
  • Put option 6900-6500 added huge 19.40 lacs OI with short covering seen at 7000 and above strike prices.
  • Nifty Open Interest is at 2,08,26,075 up by 10,71,825, with no change in price, most probably huge long/short build-up.
  • Bank Nifty Open Interest is at 26,73,120 down by 1,54,830, with decrease in price, most probably huge long liquidation.
  • FII’s bought 3.91 lacs Futures, which includes net 15116 contracts long build-up and 519 contracts short covering, with increase in net OI by 14597 contracts, includes 67130 longs to 51495 shorts for the day.
  • FII’s Index future open contract as on date is 120858 Longs to 133073 Shorts, Net (-)12215 up by 15635 contracts.
  • Initial and best support still at 7000, with OI of 45.45 lacs and below that at 6800 with OI of 40.56 lacs.
  • Initial resistance at 7000, with huge OI addition of 17.00 lacs and above that at 7200 with OI of 41.77 lacs.
  • Day Range as per Option Table is 6866 - 7069 and as per VIX is 6891 - 7071 with 6962 as the Pivot.
India VIX : 24.67 down by 1.30 points
Call OI : 55417650
Put OI : 42572775
PCR OI : 0.768
SMR : 32.12 (Bearish : The Option Table stays weak with initial resistance at 7000, upside technical bounce any could be capped around 7200, lower support at 6800...)