Thursday, June 2, 2016

Option Open Interest for 02-06-2016

Inference
The index opened negative and stayed in a narrow range just below the previous days close for the major part of the day only to move up and close near the highs at 8218.95, gain of 39.00 points. The broader market was flat with 767 advances to 785 declines. Range has narrowed down to 8000-8400.
  • Call option 8300-8700 added 15.49 lacs OI with short covering at 8200 and below strike prices.
  • Put option 8300-8100, 7900-7500 added 16.19 lacs OI with profit booking at 8000 and 7400 strike prices.
  • Nifty Open Interest is at 2,15,19,600 up by 20,250, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 17,64,480 up by 1,08,450 with increase in price, probably long build-up.
  • FII’s sold 2295 contracts of Index Futures, which includes net 1610 contracts long liquidation and 685 contracts short build-up, with decrease in net OI by 925 contracts, includes 25579 longs to 27874 shorts for the day.
  • FII’s Index future open contract as on date is 242193 Longs to 50355 Shorts, Net 191838 down by huge 2295 contracts.
  • Initial support at 8100, with OI of 39.16 lacs and below that at 8000 with highest OI of 62.54 lacs.
  • Initial resistance at 8300, with OI of 40.56 lacs and above that at 8400 with OI of 43.31 lacs.
  • Day Range as per Option Table is 8138 - 8269 and as per VIX is 8154 - 8284 with 8201 as the Pivot.
India VIX : 15.09 down by 0.75 points
Call OI : 37480925
Put OI : 44281750
PCR OI : 1.1814
SMR : 12.77 (Bullish : Another strong close with the index comfortably above 8200, OI table stays firm within the range of 8000-8400...)