Monday, August 8, 2016

Option Open Interest for 08-08-2016

Inference
The index opened strong around 8713 and stayed strong for the entire session of trade to close around the open at 8711.35, gain of 28.20 points. The broader market was positive with 904 advances to 726 declines. Range back to 8500-9000.
  • Call option 9000-9200 added 2.19 lacs OI with short covering at 8700 and below strike prices.
  • Put option 8800-8500 added 12.71 lacs OI with profit booking at 8400 and below strike prices.
  • Nifty Open Interest is at 2,46,71,175 up by 7,05,825, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 18,39,440 down by 3,600, with increase in price, most probably short covering.
  • FII’s bought 6506 contracts of Index Futures, which includes net 7360 contracts long build-up and 854 contracts short build-up, with increase in net OI by 8214 contracts, includes 21799 longs to 15293 shorts for the day.
  • FII’s Index future open contract as on date is 291336 Longs to 39565 Shorts, Net long 251771 contracts.
  • Initial support at 8600, with OI of 48.23 lacs and below that at 8500 with OI of 56.25 lacs.
  • Initial resistance at 8800, with OI of 48.10 lacs and above that at 8900 with OI of 42.64 lacs.
  • Day Range as per Option Table is 8647 - 8772 and as per VIX is 8645 - 8778 with 8711 as the Pivot.
India VIX : 14.59 up by 0.24 points
Call OI : 36982950
Put OI : 36076650
PCR OI : 0.9755
SMR : 14.96 (Bullish : The OI Table is getting better for the Bulls with each passing day with 8500 now a strong base, upside resistance range 8800-9000...)