Wednesday, March 9, 2016

Option Open Interest for 09-03-2016

Inference
The index opened weak around 7436 and went down to touch the lows at 7424, but saw the responsive buyer back in action to move the index above 7500 and close strong at 7531.80, gain of 46.50 points. The broader market was positive with 853 advances to 687 declines. The range has increased to 7000-7700.
  • Call option 7500-8000 added huge 14.09 lacs OI with short covering seen at 7400 and below strike prices.
  • Put option 7700-7100 added huge 21.49 lacs OI with profit booking seen at 7000 and below strike prices.
  • Nifty Open Interest is at 2,25,85,875 down by 4,12,800, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 19,48,890 up by 26,460, with increase in price, most probably long build-up.
  • FII’s bought 0.59 lacs Futures, which includes net 8686 contracts long build-up and 6339 contracts short build-up, with increase in net OI by 15025 contracts, includes 28249 longs to 25902 shorts for the day.
  • FII’s Index future open contract as on date is 167588 Longs to 141817 Shorts, Net 25771 up by 2347 contracts.
  • Initial support now at 7500, with huge OI addition of 9.16 lacs and below that at 7400 with OI of 42.44 lacs.
  • Initial resistance at 7600, with OI of 47.60 lacs and above that at 7700 with OI of 47.69 lacs.
  • Day Range as per Option Table is 7415 - 7597 and as per VIX is 7463 - 7601 with 7498 as the Pivot.
India VIX : 17.51 down by 0.96 points
Call OI : 48388725
Put OI : 56337175
PCR OI : 1.164
SMR : 15.04 (Bullish : The index closed above 7500 for the first time this series, with huge addition at 7500PE level, but now within the best resistance range of 7500-7600...)