Tuesday, March 8, 2016

Option Open Interest for 08-03-2016

Inference
The index opened flat but went up above 7500 within the first few minutes but saw selling pressure and went down to touch the lows around 7442. Some buying around the last hour saw the index close flat at 7485.30, small loss of 0.05 points. The broader market was just negative with 776 advances to 797 declines. The range stays at 7000-7600.
  • Call option 7500-8000 added huge 13.18 lacs OI with short covering seen at 7400 and below strike prices.
  • Put option 7600-7100 added huge 19.87 lacs OI with profit booking seen at 7000 and below strike prices.
  • Nifty Open Interest is at 2,29,98,675 up by 7,74,900, with no change in price, most probably huge long/short build-up.
  • Bank Nifty Open Interest is at 19,22,430 down by 41,160, with decrease in price, most probably long liquidation.
  • FII’s bought 3.50 lacs Futures, which includes net 15515 contracts long build-up and 1506 contracts short build-up, with increase in net OI by 17021 contracts, includes 33783 longs to 19774 shorts for the day.
  • FII’s Index future open contract as on date is 158902 Longs to 135478 Shorts, Net 23424 up by 14009 contracts.
  • Initial support at 7400, with OI of 38.15 lacs and below that at 7300 with OI of 45.95 lacs.
  • Initial and best resistance at 7500, with OI of 59.04 lacs and above that at 7600 with OI of 46.98 lacs.
  • Day Range as per Option Table is 7391 - 7576 and as per VIX is 7413 - 7558 with 7485 as the Pivot.
India VIX : 18.47 up by 0.59 points
Call OI : 48223575
Put OI : 55056400
PCR OI : 1.142
SMR : 16.18 (Bullish : A flat close but the Option Table stays strong with lower level support getting stronger with each passing days, upside resistance still very good at 7500...)