Tuesday, May 31, 2016

Option Open Interest for 31-05-2016

Inference
The index opened strong above 8200 but profit booking saw it close in the red at 8160.10, loss of 18.40 points. The broader market was negative with 590 advances to 970 declines. Range has narrowed down to 8000-8400.
  • Call option 8200-8700 added 16.25 lacs OI with short covering at 8000 and below strike prices.
  • Put option 8500-8000 added 10.28 lacs OI with profit booking at 7900 and below strike prices.
  • Nifty Open Interest is at 2,16,30,150 down by 65,700, with decrease in price, probably long liquidation.
  • Bank Nifty Open Interest is at 17,05,950 up by 1,020 with increase in price, probably long build-up.
  • FII’s bought 9821 contracts of Index Futures, which includes net 1395 contracts long build-up and 8426 contracts short covering, with decrease in net OI by 7031 contracts, includes 48947 longs to 39126 shorts for the day.
  • FII’s Index future open contract as on date is 243654 Longs to 44909 Shorts, Net 198745 up by huge 9821 contracts.
  • Initial support stays at 8100, with OI of 29.81 lacs and below that at 8000 with highest OI of 59.74 lacs.
  • Initial resistance still at 8200, with OI of 33.99 lacs and above that at 8300 with OI of 35.87 lacs.
  • Day Range as per Option Table is 8098 - 8235 and as per VIX is 8092 - 8229 with 8169 as the Pivot.
India VIX : 16.05 up by 0.07 points
Call OI : 35856350
Put OI : 41106525
PCR OI : 1.1464
SMR : 14.00 (Bullish : Bulls are strongly in command of the OI table with 8000 the base for the series, upside resistance around 8300-8400...)