Tuesday, May 24, 2016

Option Open Interest for 24-05-2016

Inference
The index opened flat to positive and stayed in a narrow range only to strong buying around the dying minutes to close near the highs of the day at 7748.85, gain of 17.80 points. The broader market though was weak with 492 advances to 1075 declines. Range till expiry comes to 7700-7900.
  • Call option did not add any OI with profit booking at 7900 and above strike prices.
  • Put option 7700-7600 added 9.08 lacs OI with short covering at 7800 and above strike prices.
  • Nifty Open Interest is at 1,36,67,175 down by 9,52,800, whereas June series added 21.81 lacs with increase in price, probably 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 14,04,570 down by 1,66,560, whereas June series added 2.22 lacs with increase in price, probably 100% roll-over with long build-up.
  • FII’s sold 6620 contracts of Index Futures, which includes net 9333 contracts long build-up and 15953 contracts short build-up, with increase in net OI by 25286 contracts, includes 92030 longs to 98650 shorts for the day.
  • FII’s Index future open contract as on date is 157729 Longs to 145385 Shorts, Net 12344 down by 6620 contracts.
  • Initial and best support still at 7700, with OI of 57.92 lacs and below that at 7600 with OI of 42.30 lacs.
  • Initial resistance at 7800, with OI of 58.65 lacs and above that at 7900 with OI of 66.22 lacs.
  • Day Range as per Option Table is 7682 - 7806 and as per VIX is 7683 - 7815 with 7742 as the Pivot.
India VIX : 16.22 up by 0.06 points
Call OI : 49382175
Put OI : 40898100
PCR OI : 0.828
SMR : 19.58 (Bearish : The index moved up from the best support level at 7700 though strong resistance stays at 7800-7900, range till expiry 7700-7900...)