Sunday, July 24, 2016

Option Open Interest for 22-07-2016

Inference
The index opened flat to positive and after an initial dip saw buying interest to close near the highs of the day at 8541.20, gain of 31.10 points. The broader market was positive with 945 advances to 647 declines. Range back to 8400-8700.
  • Call option 8700-8800 added 1.24 lacs OI with short covering at 8500 and below strike prices.
  • Put option 8500-8400 added 6.39 lacs OI with profit booking at 8300 and below strike prices.
  • Nifty Open Interest is at 2,32,62,900 up by 1,35,075, whereas next series added 5.85 lacs with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 19,37,240 down by 1,77,440, whereas next series added 0.75 lacs with increase in price, probably short covering with small roll-over.
  • FII’s bought 8421 contracts of Index Futures, which includes net 8991 contracts long build-up and 570 contracts short build-up, with increase in net OI by 9561 contracts, includes 33888 longs to 25467 shorts for the day.
  • FII’s Index future open contract as on date is 294744 Longs to 52971 Shorts, Net long 241773 contracts.
  • Initial support at 8500, with OI of 49.72 lacs and below that at 8400 with OI of 58.75 lacs.
  • Initial and best resistance at 8600, with OI of 61.76 lacs and above that at 8700 with OI of 57.92 lacs.
  • Day Range as per Option Table is 8475 - 8584 and as per VIX is 8472 - 8610 with 8527 as the Pivot.
India VIX : 15.50 down by 0.21 points
Call OI : 40056975
Put OI : 45426825
PCR OI : 1.1341
SMR : 13.67 (Bullish : Bias stays positive with another go at 8600 possible, support getting better around 8500, resistance range 8600-8700...)