Friday, August 5, 2016

Option Open Interest for 04-08-2016

Inference
The index opened strong around 8600 on GST news but saw profit booking towards 8518 but closed midway at 8551.10, gain of 6.25 points. The broader market was positive with 856 advances to 752 declines. Range has come down to 8500-8800.
  • Call option 8600-8800 added 8.96 lacs OI with profit booking at 8900 and above strike prices.
  • Put option 8600-8000 added 12.34 lacs OI with short covering at 8700 and above strike prices.
  • Nifty Open Interest is at 2,37,18,750 down by 2,88,075, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 17,63,720 down by 1,90,120, with decrease in price, most probably long liquidation.
  • FII’s bought 10646 contracts of Index Futures, which includes net 7317 contracts long build-up and 3329 contracts short covering, with increase in net OI by 3988 contracts, includes 40660 longs to 30014 shorts for the day.
  • FII’s Index future open contract as on date is 273018 Longs to 35476 Shorts, Net long 237542 contracts.
  • Initial and best support stays at 8500, with OI of 46.09 lacs and below that at 8400 with OI of 37.94 lacs.
  • Initial resistance at 8600, with OI of 28.31 lacs and above that at 8700 with OI of 51,25 lacs.
  • Day Range as per Option Table is 8496 - 8619 and as per VIX is 8483 - 8619 with 8557 as the Pivot.
India VIX : 15.14 down by 1.10 points
Call OI : 41876700
Put OI : 32736600
PCR OI : 0.7817
SMR : 19.37 (Neutral to Bearish : The OI table stays weak but bounce back seen from the best possible support region at 8500, SMR around 20, time for reversal...)