Friday, April 1, 2016

Option Open Interest for 01-04-2016

Inference
The index opened weak and stayed in red for the entire day of trade making a low of 7666 but closed just above the psychological level of 7700 at 7713.05, loss of 25.35 points. The broader market was strong with 1086 advances to 468 declines. The range stays at 7400-8000.
  • Call option 7800-8300 added 28.89 lacs OI with short covering seen at 7500 and below strike prices.
  • Put option 7700-7000 added huge 59.72 lacs OI with short covering seen at 7800 strike price.
  • Nifty Open Interest is at 1,85,12,700 down by 3,56,100, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 17,27,640 up by 79,530, with increase in price, most probably long build-up.
  • FII’s sold 7366 contracts of Index Futures, which includes net 4170 contracts long liquidation and 3196 contracts short build-up, with decrease in net OI by 974 contracts, includes 25237 longs to 32603 shorts for the day.
  • FII’s Index future open contract as on date is 169761 Longs to 67996 Shorts, Net 101765 down by 7366 contracts.
  • Initial support at 7600, with OI of 31.96 lacs and below that at 7500 with OI of 44.24 lacs.
  • Initial resistance at 7800, with OI of 32.08 lacs and above that at 7900 with OI of 39.56 lacs.
  • Day Range as per Option Table is 7635 - 7782 and as per VIX is 7643 - 7783 with 7706 as the Pivot.
India VIX : 17.28 up by 0.70 points
Call OI : 32987625
Put OI : 31556550
PCR OI : 0.957
SMR : 18.06 (Bullish : The index though closed in Red but the OI table saw huge support build-up at 7600-7500 range, upside resistance comes only around 7900...)