Thursday, March 3, 2016

Option Open Interest for 03-03-2016

Inference
Repeat of the last 2 days with the index opening strong at 7430 and stayed positive for the entire session of trade to close near the highs at 7475.60, huge gain of 106.75 points. The broader market was strong with 1089 advances to 453 declines. The range stays at 7000-7500.
  • Call option 7500-8000 added 5.80 lacs OI with short covering seen at 7400 and below strike prices.
  • Put option 7600-7000 added huge 44.23 lacs OI with profit booking seen at 6900 and below strike prices.
  • Nifty Open Interest is at 2,13,24,300 up by 13,76,775, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 19,92,570 down by 59,400, with increase in price, most probably short covering.
  • FII’s bought 1.23 lacs Futures, which includes net 9439 contracts long build-up and 4503 contracts short build-up, with increase in net OI by 13942 contracts, includes 43129 longs to 38193 shorts for the day.
  • FII’s Index future open contract as on date is 134013 Longs to 126636 Shorts, Net 7377 up by 4936 contracts.
  • Initial support at 7400, with huge OI addition of 15.11 lacs and below that at 7300 with OI of 39.83 lacs.
  • Initial and best resistance at 7500, with OI of 51.36 lacs and above that at 7600 with OI of 37.85 lacs.
  • Day Range as per Option Table is 7352 - 7565 and as per VIX is 7405 - 7546 with 7455 as the Pivot.
India VIX : 18.04 down by 0.95 points
Call OI : 46384650
Put OI : 52974400
PCR OI : 1.142
SMR : 15.80 (Bullish : The index has reached the best resistance point at 7500 in the OI table and reaction if any will show the way for correction or move towards 7600...)