Wednesday, March 23, 2016

Option Open Interest for 23-03-2016

Inference
The index opened flat and stayed weak for the major part of the day only to see huge short covering towards the end of the day to close flat to positive at 7716.50, gain of 1.60 points. The broader market was negative with 759 advances to 783 declines. The range till expiry is 7300-7800.
  • Call option 7700-8200 added 8.29 lacs OI with short covering seen at 7600 and below strike prices.
  • Put option 7800-7700 added 10.66 lacs OI with profit booking seen at 7600 and below strike prices.
  • Nifty Open Interest is at 2,17,34,325 up by 6,39,300, whereas Apr series added 3.07 lacs with increase in price, most probably long build-up in both series.
  • Bank Nifty Open Interest is at 24,02,460 down by 55,440, whereas Apr series added 0.31 lacs with decrease in price, most probably some roll-over with small long liquidation.
  • FII’s bought 3.08 lacs Futures, which includes net 7812 contracts long build-up and 4501 contracts short covering, with increase in net OI by 3311 contracts, includes 35441 longs to 23128 shorts for the day.
  • FII’s Index future open contract as on date is 230210 Longs to 129534 Shorts, Net 100676 up by 12313 contracts.
  • Initial support at 7700, with OI of 43.62 lacs and below that at 7600 with OI of 53.72 lacs.
  • Initial resistance at 7750, with OI addition of 3.78 lacs and above that at 7800 with highest OI of 66.57 lacs.
  • Day Range as per Option Table is 7635 - 7778 and as per VIX is 7650 - 7783 with 7705 as the Pivot.
India VIX : 16.35 down by 0.08 points
Call OI : 47726150
Put OI : 61350125
PCR OI : 1.285
SMR : 12.72 (Bullish : The index is consolidating around 7700 for the last 2 days, upside if any seems limited till expiry, but still stays a buy on dips...)