Wednesday, May 11, 2016

Option Open Interest for 11-05-2016

Inference
The index opened weak around 7800 but saw good buying at lower levels to move back in green but closed just a few points lower at 7848.85, loss of 38.95 points. The broader market was weak with 601 advances to 939 declines. Range for the series is at 7600-8100.
  • Call option 7900-8000, 8200-8400 added 7.04 lacs OI with profit booking at 8100 strike price.
  • Put option 7800, 7400, 7200-7100 added 8.80 lacs OI with short covering at 7900 and above strike prices.
  • Nifty Open Interest is at 1,67,20,350 down by 17,63,100, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 16,57,620 down by 22,020, with decrease in price, most probably long liquidation.
  • FII’s sold 16260 contracts of Index Futures, which includes net 12407 contracts long liquidation and 3853 contracts short build-up, with decrease in net OI by 8554 contracts, includes 21325 longs to 37585 shorts for the day.
  • FII’s Index future open contract as on date is 134118 Longs to 98876 Shorts, Net 35242 down by 16260 contracts.
  • Initial support stays at 7800, with OI of 48.69 lacs and below that at 7700 with OI of 51.47 lacs.
  • Initial resistance at 7900, with OI of 51.04 lacs and above that at 8000 with highest OI of 65.44 lacs.
  • Day Range as per Option Table is 7775 - 7911 and as per VIX is 7779 - 7919 with 7841 as the Pivot.
India VIX : 16.96 up by 0.54 points
Call OI : 46795350
Put OI : 42124200
PCR OI : 0.900
SMR : 18.84 (Bullish : The OI table stays neutral with not much change in OI, series range stays at 7700-8000, with small advantage with the Bulls...)