Monday, July 11, 2016

Option Open Interest for 11-07-2016

Inference
The index opened huge gap-up above 8400 and stayed strong for the entire session of trade to close just a few points from 8500 at 8467.90, huge gain of 144.70 points. The broader market was strong with 1094 advances to 540 declines. Range for the series stays at 8200-8700.
  • Call option 8600-9000 added 23.76 lacs OI with short covering at 8400 and below strike prices.
  • Put option 8700-8300 added huge 43.70 lacs OI with profit booking at 8200 and below strike prices.
  • Nifty Open Interest is at 1,99,43,700 up by 16,78,575, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 20,82,960 up by 1,98,760, with increase in price, probably long build-up.
  • FII’s bought 17456 contracts of Index Futures, which includes net 19078 contracts long build-up and 1622 contracts short build-up, with increase in net OI by 20700 contracts, includes 38292 longs to 20836 shorts for the day.
  • FII’s Index future open contract as on date is 208959 Longs to 49485 Shorts, Net long 17456 contracts.
  • Initial support at 8400, with OI of 39.78 lacs and below that at 8300 with OI of 40.47 lacs.
  • Initial resistance at 8500, with OI of 43.76 lacs and above that at 8600 with OI of 39.42 lacs.
  • Day Range as per Option Table is 8387 - 8521 and as per VIX is 8402 - 8534 with 8450 as the Pivot.
India VIX : 14.85 down by 0.23 points
Call OI : 34330875
Put OI : 40899300
PCR OI : 1.1913
SMR : 12.47 (Bullish : A Huge breakout after staying in range with the CE writers running for cover, huge addition at 8400PE, could act as initial support...)