Wednesday, May 4, 2016

Option Open Interest for 04-05-2016

Inference
The index opened negative and stayed weak for the major part of the day and closed near the lows just above the psychological level of 7700 at 7706.55, loss of 40.45 points. The broader market was weak with 367 advances to 1193 declines. Range for the series has expanded to 7500-8200.
  • Call option 7700-8100, 8300 added 28.13 lacs OI with small profit booking seen at 8200 and 8400 strike prices.
  • Put option 7600-7100 added 7.73 lacs OI with short covering seen at 7700 and above strike prices.
  • Nifty Open Interest is at 1,91,91,900 down by 6,03,750, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 17,48,070 down by 1,44,060, with decrease in price, most probably huge long liquidation.
  • FII’s sold 21950 contracts of Index Futures, which includes net 19746 contracts long liquidation and 2204 contracts short build-up, with decrease in net OI by 17542 contracts, includes 20567 longs to 42517 shorts for the day.
  • FII’s Index future open contract as on date is 168799 Longs to 88416 Shorts, Net 80383 down by 21950 contracts.
  • Initial and best support still at 7700, with OI of 40.58 lacs and below that at 7600 with OI of 31.04 lacs.
  • Initial resistance at 7800, with OI of 33.84 lacs and above that at 8000 with highest OI of 55.56 lacs.
  • Day Range as per Option Table is 7645 - 7786 and as per VIX is 7636 - 7777 with 7718 as the Pivot.
India VIX : 16.45 down by 0.01 points
Call OI : 43098075
Put OI : 33962100
PCR OI : 0.788
SMR : 22.14 (Bearish : The OI table stays weak, though near the best support region, a technical bounce maybe possible, sell only on rise...)