Monday, February 15, 2016

Option Open Interest for 15-02-2016

Inference
The index opened strong around 7057 and saw huge short covering rally to close near the highs of the day at 7162.95, huge gain of 182.00 points. The broader market was strong with 1331 advances to 237 declines. The range stays at 6800-7500.
  • Call option 7200-7500 added 4.83 lacs OI with short covering seen at 7000 and below strike prices.
  • Put option 7100-6900 added huge 26.71 lacs OI with profit booking seen at 6800 and below strike prices.
  • Nifty Open Interest is at 2,04,24,450 down by 4,01,625, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 23,39,430 down by 3,33,690, with increase in price, most probably huge short covering.
  • FII’s bought 4.43 lacs Futures, which includes net 11036 contracts long build-up and 6694 contracts short covering, with increase in net OI by 4342 contracts, includes 65947 longs to 48217 shorts for the day.
  • FII’s Index future open contract as on date is 131894 Longs to 126379 Shorts, 5515 up by 17730 contracts.
  • Initial support at 7100, with OI of 50.43 lacs and below that at 7000 with OI of 54.23 lacs.
  • Initial resistance at 7200, with OI of 42.07 lacs and above that at 7300 with OI of 50.48 lacs.
  • Day Range as per Option Table is 7034 - 7250 and as per VIX is 7079 - 7247 with 7134 as the Pivot.
India VIX : 22.38 down by 2.29 points
Call OI : 52820925
Put OI : 43702725
PCR OI : 0.827
SMR : 27.05 (Neutral : Technical bounce did come, and the bulls need a follow-up to stay in the race, else lower levels around 7000 maybe visited again...)

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