Monday, May 23, 2016

Option Open Interest for 23-05-2016

Inference
The index opened strong above 7800 but saw huge liquidation from the onset to close near the lows of the day at 7731.05, loss of 18.65 points. The broader market was weak with 587 advances to 982 declines. Range till expiry comes to 7600-7900.
  • Call option 7700-7800 added 11.63 lacs OI with profit booking at 7900 and above strike prices.
  • Put option 7700 added 0.06 lacs OI with short covering at 7800 and above strike prices.
  • Nifty Open Interest is at 1,46,19,975 down by 10,05,975, whereas June series added 28.21 lacs with decrease in price, probably 100% roll-over with huge short build-up.
  • Bank Nifty Open Interest is at 15,71,130 down by 83,610, whereas June series added 0.63 lacs with decrease in price, mostly roll-over with small long liquidation.
  • FII’s bought 6015 contracts of Index Futures, which includes net 9689 contracts long build-up and 3674 contracts short build-up, with increase in net OI by 13363 contracts, includes 70830 longs to 64815 shorts for the day.
  • FII’s Index future open contract as on date is 148396 Longs to 129432 Shorts, Net 18964 up by 6015 contracts.
  • Initial and best support still at 7700, with OI of 52.06 lacs and below that at 7600 with OI of 39.08 lacs.
  • Initial resistance at 7800, with OI of 59.32 lacs and above that at 7900 with OI of 70.73 lacs.
  • Day Range as per Option Table is 7685 - 7819 and as per VIX is 7666 - 7796 with 7758 as the Pivot.
India VIX : 16.16 down by 0.26 points
Call OI : 53174625
Put OI : 40542675
PCR OI : 0.762
SMR : 21.19 (Bearish : Option Table stays weak, upside if any till 7846NF may get sold; support still the best around 7700, Sell on rise...)