Wednesday, April 6, 2016

Option Open Interest for 06-04-2016

Inference
The index opened positive around 7636 and stayed in a narrow range but mostly in the green and closed at 7614.35, small gain of 11.15 points. The broader market was strong with 1077 advances to 472 declines. The range is at 7500-8000.
  • Call option 7600-8300 added 38.25 lacs OI with small short covering seen at 7400 and below strike prices.
  • Put option 7800-7000 added 15.48 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 1,71,45,300 down by 7,00,725, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 17,65,350 down by 6,150, with decrease in price, most probably long liquidation.
  • FII’s sold huge 13149 contracts of Index Futures, which includes net 8957 contracts long liquidation and 4192 contracts short build-up, with decrease in net OI by 4765 contracts, includes 18908 longs to 32057 shorts for the day.
  • FII’s Index future open contract as on date is 153130 Longs to 85269 Shorts, Net 67861 down by 13149 contracts.
  • Initial support stays at 7600, with OI of 39.90 lacs and below that at 7500 with OI of 56.41 lacs.
  • Initial resistance at 7700, with OI of 34.61 lacs and above that at 7800 with OI of 47.69 lacs.
  • Day Range as per Option Table is 7545 - 7688 and as per VIX is 7543 - 7685 with 7615 as the Pivot.
India VIX : 17.35 down by 0.48 points
Call OI : 46416975
Put OI : 37076850
PCR OI : 0.799
SMR : 21.72 (Bearish : The CE writers had the better day with huge addition from 7600-8200 level, strong support only around 7500, Stays a sell on rise...)