Sunday, May 29, 2016

Option Open Interest for 27-05-2016

Inference
The index opened flat to positive but saw huge buying interest from the morning itself to close near the highs of the day at 8156.65, huge gain of 87.00 points. The broader market was strong with 919 advances to 630 declines. Range at the start of the series comes to 7900-8400.
  • Call option 8200-8700 added 35.15 lacs OI with small short covering at 8100 and below strike prices.
  • Put option 8400-7500 added huge 46.16 lacs OI with profit booking at 7600 strike price.
  • Nifty Open Interest is at 2,09,37,900 up by 14,52,225, with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 17,40,570 up by 98,040 with increase in price, probably long build-up.
  • FII’s bought huge 36207 contracts of Index Futures, which includes net 32374 contracts long build-up and 3833 contracts short covering, with increase in net OI by 28541 contracts, includes 81911 longs to 45704 shorts for the day.
  • FII’s Index future open contract as on date is 230802 Longs to 51048 Shorts, Net 179754 up by huge 36207 contracts.
  • Initial support at 8100, with huge OI addition of 10.94 lacs and below that at 8000 with highest OI of 38.77 lacs.
  • Initial resistance at 8200, with OI of 33.34 lacs and above that at 8300 with OI of 30.89 lacs.
  • Day Range as per Option Table is 8062 - 8215 and as per VIX is 8091 - 8222 with 8133 as the Pivot.
India VIX : 15.33 down by 0.07 points
Call OI : 33181525
Put OI : 36494925
PCR OI : 1.100
SMR : 13.87 (Bullish : The OI table is highly Bullish with strong support at 8000 level, initial resistance around 8200 where some consolidation/correction may happen, buy on dips...)