Thursday, April 21, 2016

Option Open Interest for 21-04-2016

Inference
The index opened strong at 7953 and after making an initial high of 7978 saw some profit booking to close flat at 7912.05, small loss of 2.70 points. The broader market was negative with 631 advances to 945 declines. The range for series is at 7500-8000.
  • Call option 8000-8400 added 12.57 lacs OI with short covering seen at 7900 and below strike prices.
  • Put option 8000-7800, 7400 added 11.87 lacs OI with profit booking seen at 7700 and below strike prices.
  • Nifty Open Interest is at 1,59,71,475 down by 4,05,975, with small decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 19,05,960 up by 85,470, with increase in price, most probably huge long build-up.
  • FII’s sold 1538 contracts of Index Futures, which includes net 2786 contracts long build-up and 4324 contracts short build-up, with increase in net OI by 7110 contracts, includes 37064 longs to 38602 shorts for the day.
  • FII’s Index future open contract as on date is 175571 Longs to 85594 Shorts, Net 89977 down by 1538 contracts.
  • Initial and best support at 7800, with OI of 63.02 lacs and below that at 7700 with OI of 50.57 lacs.
  • Initial and best resistance at 8000, with highest OI of 75.03 lacs and above that at 8100 with OI of 57.76 lacs.
  • Day Range as per Option Table is 7851 - 7989 and as per VIX is 7844 - 7980 with 7925 as the Pivot.
India VIX : 16.51 down by 0.57 points
Call OI : 42665625
Put OI : 52062825
PCR OI : 1.220
SMR : 13.53 (Bullish : OI table range is being set at 7800-8000 till expiry, with bias still with the Bulls, weakness only on a sustained close below 7850...)