Wednesday, February 24, 2016

Option Open Interest for 24-02-2016

Inference
The index opened negative below 7100 and stayed weak with all small up moves being sold with ease and closed near the lows of the day at 7018.70, huge loss of 90.85 points. The broader market was weak with 415 advances to 1124 declines. The range for Expiry is at 7000-7100.
  • Call option 7000-7100 added huge 54.33 lacs OI with profit booking seen at 7200 and above strike prices.
  • Put option 7000 added huge 17.82 lacs OI with short covering seen at 7050 and above strike prices.
  • Nifty Open Interest is at 1,13,49,900 down by 29,80,350, whereas Mar series added 39.56 lacs with decrease in price, 100% roll-over with huge short build-up.
  • Bank Nifty Open Interest is at 17,28,330 down by 3,65,730, whereas Mar series added 7.05 lacs with decrease in price, 100% roll-over with huge short build-up.
  • FII’s sold 2.39 lacs Futures, which includes net 9296 contracts long build-up and 18866 contracts short build-up, with increase in net OI by 28162 contracts, includes 145164 longs to 154734 shorts for the day.
  • FII’s Index future open contract as on date is 189125 Longs to 189086 Shorts, Net 39 down by 9570 contracts.
  • Initial and best support at 7000, with OI of 69.66 lacs.
  • Initial resistance at 7050, with huge OI addition of 19.80 lacs and above that at 7100 with OI of 56.07 lacs.
  • Day Range as per Option Table is 6945 - 7124 and as per VIX is 6934 - 7103 with 7040 as the Pivot.
India VIX : 22.96 down by 0.89 points
Call OI : 55690050
Put OI : 32454000
PCR OI : 0.583
SMR : 39.39 (Bearish : The CE writers have taken a firm control of the OI table with PCR at 0.58, Expiry could be within the 6950-7100 range having negative bias...)