Tuesday, February 16, 2016

Option Open Interest for 16-02-2016

Inference
The index opened strong above 7200 but saw huge selling pressure from the onset to close weak near the lows of the day at 7048.25, huge loss of 114.70 points. The broader market was weak with 273 advances to 1290 declines. The range till expiry now comes to 6800-7300.
  • Call option 7000-7300 added huge 28.84 lacs OI with profit booking seen at 7400 and above strike prices.
  • Put option 6900-6500 added 5.69 lacs OI with short covering seen at 7100 and above strike prices.
  • Nifty Open Interest is at 2,11,86,750 up by 7,62,300, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 23,39,430 no change from previous, with decrease in price.
  • FII’s bought 4.72 lacs Futures, which includes net 18523 contracts long build-up and 342 contracts short covering, with increase in net OI by 18181 contracts, includes 54812 longs to 35947 shorts for the day.
  • FII’s Index future open contract as on date is 150417 Longs to 126037 Shorts, Net 24380 up by 18865 contracts.
  • Initial and best support at 7000, with OI of 53.39 lacs and below that at 6900 with OI of 38.19 lacs.
  • Initial resistance at 7100, with OI of 40.36 lacs and above that at 7200 with OI of 50.63 lacs.
  • Day Range as per Option Table is 6976 - 7194 and as per VIX is 6963 - 7133 with 7097 as the Pivot.
India VIX : 23.04 up by 0.66 points
Call OI : 54737925
Put OI : 42535125
PCR OI : 0.777
SMR : 29.65 (Bearish : The level of 7200 saw the Bears back in action and as said we are on the verge of retesting 7000 level, which technically is the best support...)