Monday, March 28, 2016

Option Open Interest for 28-03-2016

Inference
The index positive around 7741 but saw huge selling pressure from the onset to break one psychological support after another and closed just above 7600 at 7615.10, huge loss of 101.40 points. The broader market was weak with 347 advances to 1254 declines. The range till expiry is 7300-7700.
  • Call option 7600-7700 added huge 21.90 lacs OI with profit booking seen at 7800 and above strike prices.
  • Put option 7200 added 1.04 lacs OI with short covering seen at 7600 and above strike prices.
  • Nifty Open Interest is at 1,87,47,450 down by 29,86,875, whereas Apr series added 16.71 lacs with decrease in price, mostly roll-over with huge long liquidation.
  • Bank Nifty Open Interest is at 20,10,990 down by 3,91,470, whereas Apr series added 1.36 lacs with decrease in price, mostly rollover with huge long liquidation.
  • FII’s sold 0.56 lacs Futures, which includes net 17354 contracts long liquidation and 15113 contracts short covering, with decrease in net OI by 32467 contracts, includes 64464 longs to 66705 shorts for the day.
  • FII’s Index future open contract as on date is 212856 Longs to 114421 Shorts, Net 98435 down by 2241 contracts.
  • Initial and best support at 7600, with OI of 49.16 lacs and below that at 7500 with OI of 46.17 lacs.
  • Initial resistance at 7650, with huge OI addition of 9.46 lacs and above that at 7700 with OI of 65.22 lacs.
  • Day Range as per Option Table is 7564 - 7718 and as per VIX is 7545 - 7685 with 7651 as the Pivot.
India VIX : 17.49 up by 1.14 points
Call OI : 48879800
Put OI : 56968050
PCR OI : 1.165
SMR : 15.01 (Bullish : Huge selling for the first time this series saw the PE writers in shock with huge short covering at most of the level, a follow on action can see expiry around 7500...)