Thursday, June 16, 2016

Option Open Interest for 16-06-2016

Inference
The index opened weak around 8180 and stayed weak for the entire session of trade dipping below 8100 but closed above at 8140.75, huge loss of 65.85 points. The broader market was weak with 542 advances to 1036 declines. Range for the series stays at 8000-8300.
  • Call option 8000-8700 added 9.95 lacs OI with small profit booking at 8400 strike price.
  • Put option 7800, 7600-7500 added 6.37 lacs OI with short covering at 8100 and above strike prices.
  • Nifty Open Interest is at 1,70,58,750 down by 15,12,825, with decrease in price, probably long liquidation.
  • Bank Nifty Open Interest is at 15,29,490 down by 1,17,930 with decrease in price, probably long liquidation.
  • FII’s sold 7242 contracts of Index Futures, which includes net 10913 contracts long liquidation and 3671 contracts short covering, with decrease in net OI by 14584 contracts, includes 45528 longs to 52770 shorts for the day.
  • FII’s Index future open contract as on date is 194562 Longs to 31162 Shorts, Net long 163400 contracts.
  • Initial support at 8100, with OI of 45.91 lacs and below that at 8000 with OI of 74.76 lacs.
  • Initial resistance at 8200, with OI of 41.89 lacs and above that at 8300 with OI of 61.25 lacs.
  • Day Range as per Option Table is 8068 - 8201 and as per VIX is 8065 - 8216 with 8132 as the Pivot.
India VIX : 17.70 up by 0.64 points
Call OI : 41105750
Put OI : 49304450
PCR OI : 1.1995
SMR : 14.76 (Neutral : The Index is well within the 8000-8300 range for entire month with no resolution in sight, the writers are making merry...)