Wednesday, July 20, 2016

Option Open Interest for 20-07-2016

Inference
The index opened weak at 8515.45 but saw buying interest from the onset to close near the top of the day at 8565.85, gain of 37.30 points. The broader market was strong with 1074 advances to 519 declines. Range for the series at 8400-8700.
  • Call option 8700-8800 added 2.75 lacs OI with short covering at 8500 and below strike prices.
  • Put option 8600-8200 added 12.69 lacs OI with profit booking at 8100 and below strike prices.
  • Nifty Open Interest is at 2,35,20,525 up by 6,21,450, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 23,24,480 down by 1,120, with increase in price, probably short covering.
  • FII’s bought 941 contracts of Index Futures, which includes net 3555 contracts long build-up and 2614 contracts short build-up, with increase in net OI by 6169 contracts, includes 19780 longs to 18839 shorts for the day.
  • FII’s Index future open contract as on date is 279445 Longs to 51003 Shorts, Net long 228442 contracts.
  • Initial support getting better at 8500, with OI of 53.90 lacs and below that at 8400 with OI of 61.14 lacs.
  • Initial and best resistance at 8600, with OI of 59.40 lacs and above that at 8700 with OI of 54.52 lacs.
  • Day Range as per Option Table is 8497 - 8609 and as per VIX is 8494 - 8638 with 8549 as the Pivot.
India VIX : 15.99 up by 0.19 points
Call OI : 39808725
Put OI : 48464400
PCR OI : 1.2174
SMR : 13.13 (Bullish : The positive bias saw the market reach nearly 8600, but the best resistance still very much there, remains a buy on dips...)