Tuesday, August 30, 2016

Option Open Interest for 30-08-2016

Inference
The index opened strong and stayed strong for the entire session of trade making higher highs with each passing hour to close near the highs at 8744.35, huge gain of 136.90 points. The broader market was strong with 1009 advances to 578 declines. Range stays at 8500-9000.
  • Call option 8800-9300 added 28.32 lacs OI with short covering at 8700 and below strike prices.
  • Put option 8900-8500 added 36.20 lacs OI with profit booking at 8400 and below strike prices.
  • Nifty Open Interest is at 3,04,51,425 up by 26,88,750, with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 26,13,840 up by 4,00,480, with increase in price, probably huge long build-up.
  • FII’s bought huge 31700 contracts of Index Futures, which includes net 35291 contracts long build-up and 3591 contracts short build-up, with increase in net OI by 38882 contracts, includes 63362 longs to 31662 shorts for the day.
  • FII’s Index future open contract as on date is 353278 Longs to 43134 Shorts, Net long 310144 contracts.
  • Initial support at 8700, with huge OI addition of 11.51 lacs and below that at 8600 with OI of 56.41 lacs.
  • Initial resistance at 8800, with OI of 37.65 lacs and above that at 9000 with OI of 52.33 lacs.
  • Day Range as per Option Table is 8660 - 8782 and as per VIX is 8685 - 8804 with 8712 as the Pivot.
India VIX : 13.02 down by 0.15 points
Call OI : 34787550
Put OI : 40342950
PCR OI : 1.1597
SMR : 11.23 (Bullish : OI table has turned highly Bullish with the month turning out to be Buy on Dips, with upside resistance only around 9000...)