Thursday, March 17, 2016

Option Open Interest for 17-03-2016

Inference
The index opened strong just below 7600, but saw profit booking from the onset to close near the lows of the day at 7512.55, still a gain of 13.80 points. The broader market was positive with 823 advances to 714 declines. The range stays at 7000-7700.
  • Call option 7500-7600 added 6.05 lacs OI with short covering seen at 7400 and below strike prices.
  • Put option 7700-7300 added huge 28.36 lacs OI with profit booking seen at 7200 and below strike prices.
  • Nifty Open Interest is at 2,14,88,700 down by 2,28,600, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 18,66,960 down by 16,890, with decrease in price, most probably long liquidation.
  • FII’s bought 2.68 lacs Futures, which includes net 7100 contracts long build-up and 3639 contracts short covering, with increase in net OI by 3461 contracts, includes 42361 longs to 31622 shorts for the day.
  • FII’s Index future open contract as on date is 205639 Longs to 130707 Shorts, Net 74932 up by 10739 contracts.
  • Initial and best support at 7400, with OI of 66.09 lacs and below that at 7300 with OI of 58.15 lacs.
  • Initial and best resistance at 7500, with highest OI of 71.32 lacs and above that at 7600 with OI of 65.21 lacs.
  • Day Range as per Option Table is 7442 - 7599 and as per VIX is 7446 - 7579 with 7526 as the Pivot.
India VIX : 16.84 down by 0.28 points
Call OI : 52267250
Put OI : 60008125
PCR OI : 1.148
SMR : 14.67 (Bullish : OI Table range has narrowed down to 7400-7500, premium eating range bound movement possible for the next few days...)