Wednesday, July 13, 2016

Option Open Interest for 13-07-2016

Inference
The index opened up at 8540 and went on to make a high of 8550 but profit booking from higher levels saw the index close flat at 8519.50, small loss of 1.55 points. The broader market was weak with 507 advances to 1110 declines. Range for the series stays at 8200-8700.
  • Call option 8500-9000 added huge 36.76 lacs OI with short covering at 8400 and below strike prices.
  • Put option 8400-7800 added huge 7.85 lacs OI with profit booking at 7700 and below strike prices.
  • Nifty Open Interest is at 2,14,36,500 up by 1,79,700, with no change in price, probably long/short build-up.
  • Bank Nifty Open Interest is at 22,21,240 down by 3,800, with decrease in price, probably long liquidation.
  • FII’s bought 10573 contracts of Index Futures, which includes net 10300 contracts long build-up and 273 contracts short covering, with increase in net OI by 10027 contracts, includes 31304 longs to 20731 shorts for the day.
  • FII’s Index future open contract as on date is 236550 Longs to 48475 Shorts, Net long 188075 contracts.
  • Initial support still at 8500, with OI of 36.28 lacs and below that at 8400 with OI of 51.34 lacs.
  • Initial and best resistance at 8600, with OI of 51.75 lacs and above that at 8700 with OI of 47.25 lacs.
  • Day Range as per Option Table is 8458 - 8582 and as per VIX is 8451 - 8588 with 8521 as the Pivot.
India VIX : 15.33 up by 0.55 points
Call OI : 39074325
Put OI : 44455650
PCR OI : 1.1377
SMR : 13.47 (Bullish : A consolidation day, but the Index looks a bit tired, with possibility of a few more days of consolidation within the 8400-8600 range...)