Wednesday, August 3, 2016

Option Open Interest for 03-08-2016

Inference
The index opened positive but saw huge selling pressure from the onset to close near the lows of the day at 8544.85, loss of 78.05 points. The broader market was weak with 407 advances to 1213 declines. Range for the series stays at 8500-9000.
  • Call option 8600-9200 added huge 48.19 lacs OI with small profit booking at 9300 and above strike prices.
  • Put option 8700-8000 added 16.79 lacs OI with small short covering at 8800 and above strike prices.
  • Nifty Open Interest is at 2,40,06,825 up by 11,95,125, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 19,53,840 up by 45,440, with decrease in price, most probably short build-up.
  • FII’s sold 564 contracts of Index Futures, which includes net 2367 contracts long build-up and 2931 contracts short build-up, with increase in net OI by 5298 contracts, includes 36609 longs to 37173 shorts for the day.
  • FII’s Index future open contract as on date is 265701 Longs to 38805 Shorts, Net long 226896 contracts.
  • Initial and best support at 8500, with OI of 44.74 lacs and below that at 8400 with OI of 34.16 lacs.
  • Initial resistance at 8600, with OI addition of 8.93 lacs and above that at 8700 with OI of 49,77 lacs.
  • Day Range as per Option Table is 8504 - 8627 and as per VIX is 8472 - 8617 with 8641 as the Pivot.
India VIX : 16.24 up by 0.55 points
Call OI : 42306900
Put OI : 32117475
PCR OI : 0.7592
SMR : 21.39 (Bearish : SMR above 20, too much pessimism, shorts at lower levels need to be cautious, sell only on rise till 8700CE addition stays strong...)