Tuesday, March 1, 2016

Option Open Interest for 01-03-2016

Inference
The index opened positive around 7038 and went up and up with each passing hour to notch up the biggest one day gain in 7 years to close at 7222.30, huge gain of 235.25 points. The broader market was strong with 1343 advances to 210 declines. The range has narrowed down to 7000-7500.
  • Call option 7200, 7400-7700 added huge 23.93 lacs OI with short covering seen at 7100 and below strike prices.
  • Put option 7400-6700 added huge 53.27 lacs OI with small profit booking seen at 6600 strike price.
  • Nifty Open Interest is at 1,85,79,675 up by 5,27,925, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 22,60,110 up by 54,870, with increase in price, most probably long build-up.
  • FII’s bought 3.77 lacs Futures, which includes net 12259 contracts long build-up and 2821 contracts short covering, with increase in net OI by 9438 contracts, includes 57731 longs to 42651 shorts for the day.
  • FII’s Index future open contract as on date is 104202 Longs to 127317 Shorts, Net -23115 up by 15080 contracts.
  • Initial support at 7200, with huge OI addition of 15.54 lacs and below that at 7000 with highest OI of 60.69 lacs.
  • Initial resistance at 7300, with OI of 37.59 lacs and above that at 7400 with OI of 44.10 lacs.
  • Day Range as per Option Table is 7072 - 7290 and as per VIX is 7152 - 7293 with 7164 as the Pivot.
India VIX : 18.67 down by 1.49 points
Call OI : 46210875
Put OI : 44447800
PCR OI : 0.962
SMR : 19.41 (Bullish : The Index notched up biggest one day gain in 7 years with OI turning green, base for the series more or less done at 7000, upside resistance from 7240 onwards...)