Monday, July 25, 2016

Option Open Interest for 25-07-2016

Inference
The index opened negative but saw huge buying interest from the morning itself and went on to close above 8600 at 8635.65, gain of 94.45 points. The broader market was strong with 1078 advances to 528 declines. Range till expiry at 8500-8700.
  • Call option 8700 added 3.44 lacs OI with short covering at 8600 and below strike prices.
  • Put option 8700-8500 added 21.75 lacs OI with profit booking at 8400 and below strike prices.
  • Nifty Open Interest is at 2,14,29,450 down by 18,33,450, whereas next series added 31.86 lacs with increase in price, 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 17,84,360 down by 1,52,880, whereas next series added 1.93 lacs with increase in price, 100% roll-over with long build-up.
  • FII’s sold 4160 contracts of Index Futures, which includes net 7467 contracts long build-up and 11627 contracts short build-up, with increase in net OI by 19094 contracts, includes 70107 longs to 74267 shorts for the day.
  • FII’s Index future open contract as on date is 302211 Longs to 64598 Shorts, Net long 237613 contracts.
  • Initial support at 8600, with huge OI addition of 12.45 lacs and below that at 8500 with OI of 57.67 lacs.
  • Initial and best resistance at 8700, with OI of 61.35 lacs.
  • Day Range as per Option Table is 8548 - 8667 and as per VIX is 8565 - 8707 with 8598 as the Pivot.
India VIX : 15.72 up by 0.22 points
Call OI : 37700775
Put OI : 47036550
PCR OI : 1.2476
SMR : 12.60 (Bullish : The Index closed above 8600 exactly after a year, bias still with the Bulls but risk reward seems to be diminishing, buy only on dips...)