Thursday, July 28, 2016

Option Open Interest for 28-07-2016

Inference
The index opened positive and stayed strong for the entire session of trade with short covering near the end pulling the index to new 52 weeks high to close at 8666.30, gain of 50.50 points. The broader market was positive with 893 advances to 704 declines. Range at the start of series is at 8500-9000.
  • Call option 8000-8900 added 46.75 lacs OI.
  • Put option 9000-8000 added 46.95 lacs OI.
  • Nifty Open Interest is at 2,18,52,375 up by 41,15,400, with increase in price, 100% roll-over with small long build-up.
  • Bank Nifty Open Interest is at 17,08,360 up by 5,13,120, with increase in price, mostly roll-over with small short covering.
  • FII’s bought 1245 contracts of Index Futures, which includes net 107137 contracts long liquidation and 79066 contracts short covering, with decrease in net OI by 186203 contracts, includes 64918 longs to 63673 shorts for the day.
  • FII’s Index future open contract as on date is 249117 Longs to 32825 Shorts, Net long 216292 contracts.
  • Initial support at 8600, with huge OI addition of 10.70 lacs and below that at 8500 with OI of 36.57 lacs.
  • Initial resistance at 8700, with OI of 23.73 lacs and above that at 8800 with OI of 29,73 lacs.
  • Day Range as per Option Table is 8600 - 8715 and as per VIX is 8598 - 8735 with 8655 as the Pivot.
India VIX : 15.15 down by 0.28 points
Call OI : 28713150
Put OI : 24554625
PCR OI : 0.8552
SMR : 17.72 (Bullish : New series starts with PCR below 1.0, but price action stays strong with initial support at 8500 and resistance at 9000...)