Sunday, June 26, 2016

Option Open Interest for 24-06-2016

Inference
The index opened weak around 8029 on the back of unfavourable Britain referendum and went on to touch the lows at 7927, but closed much higher at 8088.60, still a huge loss of 181.85 points. The broader market was also weak with 337 advances to 1241 declines. Going in to expiry week the range has expanded to 7800-8400.
  • Call option 7900-8200 added huge 42.97 lacs OI with profit booking at 8300 and above strike prices.
  • Put option 7900-7600 added 12.53 lacs OI with huge short covering at 8000 and above strike prices.
  • Nifty Open Interest is at 1,34,36,025 down by 24,52,125, whereas next series added 7.95 lacs with decrease in price, probably small rollover with huge long liquidation.
  • Bank Nifty Open Interest is at 17,64,870 down by 60,540, whereas next series added 0.41 lacs with decrease in price, probably rollover with some liquidation.
  • FII’s sold 30614 contracts of Index Futures, which includes net 30941 contracts long liquidation and 327 contracts short covering, with decrease in net OI by 31268 contracts, includes 81801 longs to 112415 shorts for the day.
  • FII’s Index future open contract as on date is 146010 Longs to 57864 Shorts, Net long 88146 contracts.
  • Initial and best support at 8000, with highest OI of 65.86 lacs and below that at 7900 with OI of 49.09 lacs.
  • Initial resistance at 8100, with huge OI addition of 20.46 lacs and above that at 8200 with OI of 44.06 lacs.
  • Day Range as per Option Table is 7962 - 8143 and as per VIX is 8010 - 8167 with 8039 as the Pivot.
India VIX : 18.63 up by 0.61 points
Call OI : 43794275
Put OI : 53299875
PCR OI : 1.2171
SMR : 15.31 (Bearish : BREXIT took the wings out of the Bull Run, but they still managed to close comfortably above 8000, major weakness only on a close below the level...)