Wednesday, August 31, 2016

Option Open Interest for 31-08-2016

Inference
The index opened positive and stayed strong making a high of 8819 but close just below 8800 at 8786.20, gain of 41.85 points. The broader market though was negative with 757 advances to 855 declines. Range stays at 8500-9000.
  • Call option 8900-9400 added 21.06 lacs OI with short covering at 8800 and below strike prices.
  • Put option 9000-8400 added 30.61 lacs OI with profit booking at 8300 and below strike prices.
  • Nifty Open Interest is at 3,30,23,850 up by 25,72,425, with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 28,25,760 up by 2,11,920, with increase in price, probably huge long build-up.
  • FII’s bought huge 43818 contracts of Index Futures, which includes net 35858 contracts long build-up and 7960 contracts short covering, with increase in net OI by 27898 contracts, includes 79671 longs to 35853 shorts for the day.
  • FII’s Index future open contract as on date is 389136 Longs to 35174 Shorts, Net long 353962 contracts.
  • Initial support at 8700, with OI of 37.36 lacs and below that at 8600 with OI of 58.64 lacs.
  • Initial resistance at 8800, with OI of 33.83 lacs and above that at 9000 with OI of 57.97 lacs.
  • Day Range as per Option Table is 8725 - 8846 and as per VIX is 8726 - 8846 with 8786 as the Pivot.
India VIX : 13.24 up by 0.22 points
Call OI : 35927250
Put OI : 43340625
PCR OI : 1.2063
SMR : 10.98 (Bullish : Highly Bullish environment, time to be cautious, though still remains a strong Buy on Dip market with 9000 the resistance level...)