Sunday, August 28, 2016

Option Open Interest for 26-08-2016

Inference
The index opened positive but saw short build-up from the onset to the lows of the day around 8547 but closed marginally higher but still in red at 8572.55, loss of 19.65 points. The broader market was weak with 577 advances to 1019 declines. Range at the start of the series now at 8400-9000.
  • Call option 8400-9100 added 34.40 lacs OI with profit booking at 9200 and above strike prices.
  • Put option 8800-8000 added huge 53.38 lacs OI with short covering at 9000 strike price.
  • Nifty Open Interest is at 2,72,99,175 up by 9,17,475, with increase in price, probably huge short build-up.
  • Bank Nifty Open Interest is at 20,58,520 up by 68,320, with decrease in price, probably short build-up.
  • FII’s bought 15864 contracts of Index Futures, which includes net 12321 contracts long build-up and 3543 contracts short covering, with increase in net OI by 8778 contracts, includes 33406 longs to 17542 shorts for the day.
  • FII’s Index future open contract as on date is 315157 Longs to 37518 Shorts, Net long 277639 contracts.
  • Initial and best support at 8500, with OI of 48.54 lacs and below that at 8400 with OI of 44.41 lacs.
  • Initial resistance at 8700, with OI of 35.45 lacs and above that at 9000 with OI of 41.01 lacs.
  • Day Range as per Option Table is 8526 - 8637 and as per VIX is 8512 - 8633 with 8581 as the Pivot.
India VIX : 13.57 up by 0.28 points
Call OI : 31548675
Put OI : 34397250
PCR OI : 1.0903
SMR : 12.45 (Neutral : The Option Table stays neutral with strong support building up around 8500 level, upside resistance of note only around 9000...)