Thursday, August 18, 2016

Option Open Interest for 18-08-2016

Inference
The index opened positive and stayed strong for the entire session of trade to close strong at 8673.25, gain of 49.20 points. The broader market was strong with 1077 advances to 521 declines. Range stays at 8500-8800.
  • Call option 9200 added 0.64 lacs OI with short covering at 8700 and below strike prices.
  • Put option 8800-8600 added 21.00 lacs OI with profit booking at 8500 and below strike prices.
  • Nifty Open Interest is at 2,38,46,100 down by 7,34,925, whereas next series added 10.70 lacs with increase in price, most probably 100% roll-over with long build-up.
  • Bank Nifty Open Interest is at 22,17,400 up by 1,73,040, whereas next series added 1.35 lacs with increase in price, most probably long build-up in both series.
  • FII’s bought 859 contracts of Index Futures, which includes net 6813 contracts long build-up and 5954 contracts short build-up, with increase in net OI by 12767 contracts, includes 39206 longs to 38347 shorts for the day.
  • FII’s Index future open contract as on date is 305074 Longs to 54531 Shorts, Net long 250543 contracts.
  • Initial and best support now at 8600, with OI of 55.30 lacs and below that at 8500 with OI of 53.34 lacs.
  • Initial resistance at 8700, with OI of 53.97 lacs and above that at 8800 with OI of 64.33 lacs.
  • Day Range as per Option Table is 8571 - 8688 and as per VIX is 8607 - 8739 with 8670 as the Pivot.
India VIX : 14.55 down by 0.23 points
Call OI : 38537250
Put OI : 39754875
PCR OI : 1.0316
SMR : 14.10 (Bullish : OI has turned positive with today’s price action, with 8600 now the best support level, upside resistance stays at 8700-8800 range...)