Thursday, July 21, 2016

Option Open Interest for 21-07-2016

Inference
The index opened positive but profit booking from the onset saw the index close weak near the lows of the day at 8510.10, loss of 55.75 points. The broader market was weak with 585 advances to 1018 declines. Range back to 8400-8600.
  • Call option 8400-8800 added 15.00 lacs OI with profit booking at 8900 and above strike prices.
  • Put option 8200-8100 added 3.62 lacs OI with short covering at 8500 and above strike prices.
  • Nifty Open Interest is at 2,31,27,825 down by 3,92,700, with decrease in price, probably long liquidation.
  • Bank Nifty Open Interest is at 21,14,680 down by 2,09,800, with decrease in price, probably huge long liquidation.
  • FII’s bought 4910 contracts of Index Futures, which includes net 6308 contracts long build-up and 1398 contracts short build-up, with increase in net OI by 7706 contracts, includes 24846 longs to 19936 shorts for the day.
  • FII’s Index future open contract as on date is 285753 Longs to 52401 Shorts, Net long 233352 contracts.
  • Initial support still at 8500, with OI of 45.71 lacs and below that at 8400 with OI of 56.37 lacs.
  • Initial and best resistance at 8600, with OI of 64.28 lacs and above that at 8700 with OI of 57.51 lacs.
  • Day Range as per Option Table is 8469 - 8583 and as per VIX is 8440 - 8580 with 8533 as the Pivot.
India VIX : 15.71 down by 0.35 points
Call OI : 41747400
Put OI : 45477825
PCR OI : 1.0894
SMR : 14.42 (Neutral : Huge profit booking saw the index close around the midpoint of the range of 8400-8600, bias though has turned neutral...)

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