Wednesday, August 24, 2016

Option Open Interest for 24-08-2016

Inference
The index opened positive and stayed in a small range of just 40 points and closed making a DOJI candle at 8650.30, gain of 17.70 points. The broader market was positive with 948 advances to 651 declines. Range for expiry at 8550-8750.
  • Not much Call option addition with short covering at 8600 and below strike prices.
  • Put option 8650-8600, 8400 added 11.75 lacs OI with profit booking at 8500 and below strike prices.
  • Nifty Open Interest is at 92,94,825 down by 30,56,550, whereas next series added 29.80 lacs with no change in price, mostly roll-over with small short covering.
  • Bank Nifty Open Interest is at 14,56,240 down by 3,53,880, whereas next series added 2.75 lacs with increase in price, mostly roll-over with some short covering.
  • FII’s sold 4370 contracts of Index Futures, which includes net 3520 contracts long build-up and 7890 contracts short build-up, with increase in net OI by 11410 contracts, includes 90120 longs to 94490 shorts for the day.
  • FII’s Index future open contract as on date is 329311 Longs to 96899 Shorts, Net long 232412 contracts.
  • Initial support stays at 8600, with OI of 47.44 lacs and below that at 8500 with OI of 45.57 lacs.
  • Initial resistance at 8700, with OI of 62.35 lacs and above that at 8800 with OI of 66.35 lacs.
  • Day Range as per Option Table is 8595 - 8695 and as per VIX is 8589 - 8711 with 8644 as the Pivot.
India VIX : 13.49 down by 0.41 points
Call OI : 35773425
Put OI : 37370250
PCR OI : 1.0446
SMR : 12.91 (Bullish : Expiry has boiled down to 8600-8700 range, and possibility of extremes to be tested tomorrow with small edge to the Bulls...)