Wednesday, March 30, 2016

Option Open Interest for 30-03-2016

Inference
The index opened strong and stayed strong for the entire session of trade closing at the highest point of the month at 7735.20, huge gain of 138.20 points. The broader market was strong with 1235 advances to 337 declines. The range for expiry is 7700-7800.
  • Call option 7750 added 4.66 lacs OI with short covering seen at 7700 and below strike prices.
  • Put option 7800-7600 added huge 45.24 lacs OI with profit booking seen at 7500 and below strike prices.
  • Nifty Open Interest is at 1,44,63,975 down by 15,88,725, whereas Apr series added 28.62 lacs with increase in price, 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 12,00,420 down by 3,39,630, whereas Apr series added 3.56 lacs with increase in price, 100% roll-over with small long build-up.
  • FII’s bought 1.97 lacs Futures, which includes net 27648 contracts long build-up and 19774 contracts short build-up, with increase in net OI by 47422 contracts, includes 89577 longs to 81703 shorts for the day.
  • FII’s Index future open contract as on date is 270828 Longs to 160551 Shorts, Net 110277 up by 7874 contracts.
  • Initial support at 7700, with OI of 54.68 lacs and below that at 7600 with OI of 56.04 lacs.
  • Initial resistance at 7750, with OI addition of 4.66 lacs and above that at 7800 with highest OI of 60.28 lacs.
  • Day Range as per Option Table is 7637 - 7794 and as per VIX is 7667 - 7803 with 7707 as the Pivot.
India VIX : 16.81 down by 0.83 points
Call OI : 39116425
Put OI : 57593525
PCR OI : 1.472
SMR : 11.42 (Bullish : The bulls on the back of solid global cues and huge short covering by the sellers saw the index close at the highest point of the month just a day before expiry, a dash towards 7800 possible tomorrow...)