Monday, July 4, 2016

Option Open Interest for 04-07-2016

Inference
The index opened strong around 8377 and stayed strong making a high of 8398.45 but closed a bit lower at 8370.70, gain of 42.35 points. The broader market was strong with 1071 advances to 521 declines. Range has been expanded to 8000-8700.
  • Call option 8300-8900 added 12.54 lacs OI with short covering at 8200 and below strike prices.
  • Put option 8600-8000 added huge 37.07 lacs OI with profit booking at 7900 strike price.
  • Nifty Open Interest is at 1,90,78,800 up by 3,24,750, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 19,32,080 up by 1,06,880, with increase in price, probably huge long build-up.
  • FII’s bought 1374 contracts of Index Futures, which includes net 5074 contracts long build-up and 3700 contracts short build-up, with increase in net OI by 8774 contracts, includes 20165 longs to 18791 shorts for the day.
  • FII’s Index future open contract as on date is 188718 Longs to 41385 Shorts, Net long 147333 contracts.
  • Initial support at 8300, with huge OI addition of 9.26 lacs and below that at 8200 with OI of 39.95 lacs.
  • Initial resistance at 8400, with OI of 27.89 lacs and above that at 8500 with OI of 40.39 lacs.
  • Day Range as per Option Table is 8305 - 8446 and as per VIX is 8302 - 8439 with 8378 as the Pivot.
India VIX : 15.58 down by 0.16 points
Call OI : 31375875
Put OI : 35594250
PCR OI : 1.1344
SMR : 13.73 (Bullish : Bulls are in the driver seat with huge support been built up around 8200-8000 level, resistance of note only around 8500...)