Monday, August 29, 2016

Option Open Interest for 29-08-2016

Inference
The index opened positive but saw profit booking to the lows of the day around 8544, but value buying saw the index close above 8600 at 8607.45, gain of 34.90 points. The broader market though was negative with 711 advances to 889 declines. Range has narrowed down to 8500-9000.
  • Call option 8600-8900 added 14.49 lacs OI with short covering at 8200 and below strike prices.
  • Put option 8700-8000 added 26.48 lacs OI with short covering at 8900 and above strike prices.
  • Nifty Open Interest is at 2,77,62,675 up by 4,63,500, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 22,13,360 up by 1,54,840, with increase in price, probably huge long build-up.
  • FII’s bought 805 contracts of Index Futures, which includes net 2830 contracts long build-up and 2025 contracts short build-up, with increase in net OI by 4855 contracts, includes 38733 longs to 37928 shorts for the day.
  • FII’s Index future open contract as on date is 317987 Longs to 39543 Shorts, Net long 278444 contracts.
  • Initial support at 8600, with OI of 42.05 lacs and below that at 8500 with OI of 59.03 lacs.
  • Initial resistance at 8700, with OI of 36.76 lacs and above that at 9000 with OI of 40.05 lacs.
  • Day Range as per Option Table is 8542 - 8653 and as per VIX is 8548 - 8667 with 8591 as the Pivot.
India VIX : 13.17 down by 0.40 points
Call OI : 32926200
Put OI : 37170150
PCR OI : 1.1289
SMR : 11.67 (Bullish : Base for the series seems to have been done around 8500, with OI just shy of 60 lacs, upside resistance of note only around 9000...)