Monday, March 21, 2016

Option Open Interest for 21-03-2016

Inference
The index opened positive around 7619 and stayed strong for the entire session of trade and closed near the highs of the day at 7704.25, huge gain of 99.90 points. The broader market was positive with 989 advances to 595 declines. The range till expiry is 7300-7800.
  • Call option 7800-8000 added 14.07 lacs OI with short covering seen at 7700 and below strike prices.
  • Put option 7800-7600 added huge 49.34 lacs OI with profit booking seen at 7500 and below strike prices.
  • Nifty Open Interest is at 2,15,08,425 down by 7,51,800, whereas Apr series added 3.92 lacs with increase in price, mostly roll-over with huge short covering.
  • Bank Nifty Open Interest is at 23,50,350 up by 1,94,280, whereas Apr series added 0.23 lacs with increase in price, most probably huge long build-up in both series.
  • FII’s bought 0.72 lacs Futures, which includes net 4334 contracts long liquidation and 7195 contracts short covering, with decrease in net OI by 11529 contracts, includes 61152 longs to 58291 shorts for the day.
  • FII’s Index future open contract as on date is 217418 Longs to 131931 Shorts, Net 85487 up by 2861 contracts.
  • Initial support at 7700, with huge OI addition of 19.93 lacs and below that at 7600 with OI of 53.76 lacs.
  • Initial resistance at 7700, with OI of 59.55 lacs and above that at 7800 with OI of 56.69 lacs.
  • Day Range as per Option Table is 7607 - 7762 and as per VIX is 7638 - 7770 with 7679 as the Pivot.
India VIX : 16.33 down by 0.05 points
Call OI : 49057625
Put OI : 64232775
PCR OI : 1.309
SMR : 12.47 (Bullish : OI Table support has shifted to 7600 with huge OI addition of 27 lacs, no resistance looking good for the time being, Buy on dips...)