Thursday, July 7, 2016

Option Open Interest for 07-07-2016

Inference
The index opened flat and stayed within a narrow range oscillating between RED and GREEN to close flat at 8337.90, gain of 1.95 points. The broader market was positive with 871 advances to 745 declines. Range for the series at 8200-8700.
  • Call option 8300-8800 added 5.61 lacs OI with profit booking at 8900 and above strike prices.
  • Put option 8600-8200, 7900-7600 added 9.94 lacs OI with profit booking at 8100 and 8000 strike prices.
  • Nifty Open Interest is at 1,86,66,525 down by 2,60,775, with increase in price, probably short covering.
  • Bank Nifty Open Interest is at 18,69,320 up by 2,920, with increase in price, probably long build-up.
  • FII’s sold 3500 contracts of Index Futures, which includes net 1929 contracts long liquidation and 1571 contracts short build-up, with decrease in net OI by 358 contracts, includes 10994 longs to 14494 shorts for the day.
  • FII’s Index future open contract as on date is 189425 Longs to 43576 Shorts, Net long 145849 contracts.
  • Initial support at 8300, with OI of 34.15 lacs and below that at 8200 with highest OI of 46.27 lacs.
  • Initial resistance at 8400, with OI of 34.12 lacs and above that at 8500 with OI of 42.48 lacs.
  • Day Range as per Option Table is 8276 - 8400 and as per VIX is 8271 - 8405 with 8339 as the Pivot.
India VIX : 15.31 down by 0.05 points
Call OI : 33274500
Put OI : 37499550
PCR OI : 1.1270
SMR : 13.59 (Bullish : A small consolidation day, with strong addition at 8300-8200PE level, CE writers still not able to secure higher levels barring 8500...)