Thursday, September 8, 2016

Option Open Interest for 08-09-2016

Inference
The index opened flat but saw buying at lower levels to close strong near the highs at 8952.50, gain of 34.55 points. The broader market was strong with 1004 advances to 616 declines. Range now at 8600-9000.
  • Call option 8900-9000, 9200-9500 added 5.15 lacs OI with short covering at 8800 and below strike prices.
  • Put option 9100-8700 added 15.84 lacs OI with profit booking at 8600 and below strike prices.
  • Nifty Open Interest is at 3,43,47,975 up by 3,43,575, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 28,93,880 down by 10,200, with no change in price, probably long liquidation.
  • FII’s sold 808 contracts of Index Futures, which includes net 2154 contracts long build-up and 2962 contracts short build-up, with increase in net OI by 5116 contracts, includes 28402 longs to 29210 shorts for the day.
  • FII’s Index future open contract as on date is 410649 Longs to 52409 Shorts, Net long 358240 contracts.
  • Initial support at 8900, with OI of 35.34 lacs and below that at 8800 with OI of 48.08 lacs.
  • Initial and best resistance still at 9000, with OI of 55.84 lacs and above that at 9100 with OI of 34.82 lacs.
  • Day Range as per Option Table is 8882 - 8997 and as per VIX is 8891 - 9014 with 8936 as the Pivot.
India VIX : 13.12 down by 0.03 points
Call OI : 35394450
Put OI : 50647425
PCR OI : 1.4309
SMR : 9.17 (Bullish : Nifty hovering within the 8900-9000 range for the last 2 days, staying above today’s high can bring 9000 on the back of short covering on Friday...)