Wednesday, July 27, 2016

Option Open Interest for 27-07-2016

Inference
The index opened flat to positive and went up to make a new 52 week high but profit booking saw the index close just above 8600 at 8615.80, gain of 25.15 points. The broader market was flat with 796 advances to 807 declines. Range for expiry at 8500-8700.
  • Call option 8650-8700 added 11.70 lacs OI with short covering at 8500 and below strike prices.
  • Put option 8600-8500 added 12.59 lacs OI with profit booking at 8400 and below strike prices.
  • Nifty Open Interest is at 1,76,61,225 down by 27,58,350, whereas next series added 47.58 lacs with increase in price, 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 13,05,000 down by 2,39,320, whereas next series added 2.82 lacs with increase in price, 100% roll-over with long build-up.
  • FII’s bought 964 contracts of Index Futures, which includes net 14934 contracts long build-up and 13970 contracts short build-up, with increase in net OI by 28904 contracts, includes 102123 longs to 101159 shorts for the day.
  • FII’s Index future open contract as on date is 356254 Longs to 111891 Shorts, Net long 244363 contracts.
  • Initial support at 8600, with huge OI addition of 7.88 lacs and below that at 8500 with OI of 53.26 lacs.
  • Initial resistance at 8650, with OI of 31.03 lacs and above that at 8700 with OI of 61,76 lacs.
  • Day Range as per Option Table is 8555 - 8675 and as per VIX is 8546 - 8685 with 8618 as the Pivot.
India VIX : 15.43 down by 0.19 points
Call OI : 34970625
Put OI : 43627200
PCR OI : 1.2475
SMR : 12.37 (Bullish : The index has gone into expiry with positive bias, and staying above 8600 can bring 8700, no weakness seen at all...)