Sunday, March 20, 2016

Option Open Interest for 18-03-2016

Inference
The index opened strong around 7535 and stayed strong for the entire session of trade and closed near the highs of the day at 7604.35, huge gain of 91.80 points. The broader market was positive with 814 advances to 753 declines. The range has narrowed down to 7300-7700.
  • Call option 7700-7900 added 5.89 lacs OI with short covering seen at 7600 and below strike prices.
  • Put option 7700-7300 added huge 24.94 lacs OI with profit booking seen at 7200 and below strike prices.
  • Nifty Open Interest is at 2,22,60,225 up by 7,71,525, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 21,56,070 up by 2,89,110, with increase in price, most probably huge long build-up.
  • FII’s bought 1.92 lacs Futures, which includes net 16113 contracts long build-up and 8419 contracts short build-up, with increase in net OI by 24532 contracts, includes 41803 longs to 34109 shorts for the day.
  • FII’s Index future open contract as on date is 221752 Longs to 139126 Shorts, Net 82626 up by 7694 contracts.
  • Initial support at 7500, with OI of 59.00 lacs and below that at 7400 with highest OI of 72.72 lacs.
  • Initial and best resistance at 7700, with OI of 68.87 lacs and above that at 7800 with OI of 47.15 lacs.
  • Day Range as per Option Table is 7506 - 7662 and as per VIX is 7539 - 7670 with 7579 as the Pivot.
India VIX : 16.38 down by 0.46 points
Call OI : 51091250
Put OI : 61540050
PCR OI : 1.205
SMR : 13.60 (Bullish : The index closed above 7600 for the first time this month on the back of strong OI table, major support now shifting to 7500, resistance best at 7700...)