Tuesday, May 3, 2016

Option Open Interest for 03-05-2016

Inference
The index opened positive and went on to make a high of 7890 but profit booking from higher levels saw the index nose-dive below 7800 and closed weak at 7747.00, loss of 58.90 points. The broader market was negative with 667 advances to 892 declines. Range for the series stays at 7700-8200.
  • Call option 7800-8400 added 36.12 lacs OI with small short covering seen at 7700 and below strike prices.
  • Put option 7700-7500 added 8.57 lacs OI with short covering seen at 7800 and above strike prices.
  • Nifty Open Interest is at 1,97,95,650 down by 17,100, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 18,92,130 up by 1,11,420, with decrease in price, most probably huge short build-up.
  • FII’s sold 16289 contracts of Index Futures, which includes net 14290 contracts long liquidation and 1999 contracts short build-up, with decrease in net OI by 12291 contracts, includes 25785 longs to 42074 shorts for the day.
  • FII’s Index future open contract as on date is 188545 Longs to 86212 Shorts, Net 102333 down by 16289 contracts.
  • Initial and best support at 7700, with OI of 44.68 lacs and below that at 7600 with OI of 30.12 lacs.
  • Initial resistance at 7800, with OI of 25.15 lacs and above that at 7900 with OI of 37.36 lacs.
  • Day Range as per Option Table is 7705 - 7856 and as per VIX is 7676 - 7818 with 7791 as the Pivot.
India VIX : 17.46 up by 0.37 points
Call OI : 40413900
Put OI : 33911850
PCR OI : 0.839
SMR : 20.81 (Bearish : OI stayed weak with the index closing below 7800, support still stays at 7700 though huge resistance coming up at 8000...)


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