Friday, February 26, 2016

Option Open Interest for 26-02-2016

Inference
The index opened strong above 7000 and stayed positive throughout the entire session of trade with small dips being bought with ease and closed at 7029.75, gain of 59.15 points. The broader market though was weak with 586 advances to 926 declines. The range at the start of the series comes to 6800-7500.
  • Call option 6900-7700 added huge 51.89 lacs OI.
  • Put option 7100-6400 added huge 34.05 lacs OI with small short covering seen at 7500 and above strike prices.
  • Nifty Open Interest is at 1,85,00,850 down by 1,62,150, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 21,51,060 down by 2,90,860, with increase in price, most probably huge short covering.
  • FII’s bought 3.87 lacs Futures, which includes net 8400 contracts long build-up and 7083 contracts short covering, with increase in net OI by 1317 contracts, includes 43461 longs to 27978 shorts for the day.
  • FII’s Index future open contract as on date is 91749 Longs to 144253 Shorts, Net -51504 up by 15483 contracts.
  • Initial and best support at 7000, with highest OI of 49.59 lacs and below that at 6800 with OI of 30.58 lacs.
  • Initial resistance at 7100, with huge OI addition of 6.48 lacs and above that at 7200 with OI of 30.35 lacs.
  • Day Range as per Option Table is 6943 - 7107 and as per VIX is 6949 - 7110 with 7023 as the Pivot.
India VIX : 21.87 down by 0.88 points
Call OI : 39232025
Put OI : 35411025
PCR OI : 0.903
SMR : 24.23 (Bearish : PCR still well below 1, though support getting better around the 7000-6800 range, waiting for all import Budget session on Monday to make a move...)