Sunday, August 7, 2016

Option Open Interest for 05-08-2016

Inference
The index opened strong around 8600 and stayed strong for the entire session of trade to close near the highs of the day at 8683.15, gain of 132.05 points. The broader market was strong with 1212 advances to 397 declines. Range back to 8500-9000.
  • Call option 8900 added 1.18 lacs OI with short covering at 8700 and below strike prices.
  • Put option 8800-8400 added 24.56 lacs OI with profit booking at 8300 and below strike prices.
  • Nifty Open Interest is at 2,39,65,350 up by 2,46,600, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 18,43,040 up by 79,320, with increase in price, most probably long build-up.
  • FII’s bought 7723 contracts of Index Futures, which includes net 10958 contracts long build-up and 3235 contracts short build-up, with increase in net OI by 14193 contracts, includes 36815 longs to 29092 shorts for the day.
  • FII’s Index future open contract as on date is 283976 Longs to 38711 Shorts, Net long 245265 contracts.
  • Initial support at 8600, with OI of 45.33 lacs and below that at 8500 with OI of 52.78 lacs.
  • Initial resistance at 8800, with OI of 48.49 lacs and above that at 8900 with OI of 45,88 lacs.
  • Day Range as per Option Table is 8601 - 8722 and as per VIX is 8618 - 8748 with 8654 as the Pivot.
India VIX : 14.35 down by 0.79 points
Call OI : 38124150
Put OI : 35246925
PCR OI : 0.9245
SMR : 15.52 (Bullish : A strong reversal from the best possible support at 8500, base seems to be done, ceiling well above at 9000, a 500 points range till expiry...)