Thursday, July 14, 2016

Option Open Interest for 14-07-2016

Inference
The index opened flat at 8516 and stayed in a narrow range for the first few hours only to see huge long build-up to close near the highs of the day at 8565.00, gain of 45.50 points. The broader market was strong with 1000 advances to 617 declines. Range for the series stays at 8200-8700.
  • Call option 8700-9000 added 10.43 lacs OI with short covering at 8500 and below strike prices.
  • Put option 8700-8400 added 14.78 lacs OI with profit booking at 8300-8200 strike prices.
  • Nifty Open Interest is at 2,20,60,950 up by 6,24,450, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 23,53,160 up by 1,31,920, with increase in price, probably huge long build-up.
  • FII’s bought 6811 contracts of Index Futures, which includes net 7903 contracts long build-up and 1092 contracts short build-up, with increase in net OI by 8995 contracts, includes 22072 longs to 15261 shorts for the day.
  • FII’s Index future open contract as on date is 244453 Longs to 49567 Shorts, Net long 194886 contracts.
  • Initial support at 8500, with OI of 42.30 lacs and below that at 8400 with OI of 54.55 lacs.
  • Initial resistance at 8600, with OI of 48.62 lacs and above that at 8700 with OI of 50.07 lacs.
  • Day Range as per Option Table is 8490 - 8609 and as per VIX is 8495 - 8635 with 8546 as the Pivot.
India VIX : 15.61 up by 0.28 points
Call OI : 39039375
Put OI : 46948725
PCR OI : 1.2026
SMR : 12.98 (Bullish : The Index has reached the best resistance in the OI table at 8600-8700, consolidation/time correction may be seen, stays a buy on dips...)