Sunday, September 18, 2016

Option Open Interest for 16-09-2016

Inference
The index opened strong around 8781 and went up to touch the highs of the day at 8848, only to see huge profit booking to close at 8779.85, gain of 37.30 points. The broader market though was negative with 747 advances to 875 declines. Range stays at 8500-9000.
  • Call option 8900, 9100 added 4.34 lacs OI with short covering at 8800 and below strike price.
  • Put option 8900-8600 added 12.69 lacs OI with profit booking at 8500 and below strike prices.
  • Nifty Open Interest is at 3,21,28,125 up by 80,925, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 22,05,240 down by 50,880, with not much change in price, probably long liquidation/short covering.
  • FII’s bought 6247 contracts of Index Futures, which includes net 4854 contracts long build-up and 1393 contracts short covering, with increase in net OI by 3461 contracts, includes 40700 longs to 34453 shorts for the day.
  • FII’s Index future open contract as on date is 396416 Longs to 66161 Shorts, Net long 330255 contracts.
  • Initial support still at 8700, with OI of 47.89 lacs and below that at 8600 with OI of 60.38 lacs.
  • Initial resistance at 8900, with OI of 51.52 lacs and above that at 9000 with OI of 52.48 lacs.
  • Day Range as per Option Table is 8728 - 8852 and as per VIX is 8713 - 8847 with 8793 as the Pivot.
India VIX : 14.58 down by 0.10 points
Call OI : 39088650
Put OI : 47737350
PCR OI : 1.2213
SMR : 11.94 (Neutral to Bullish : The index has entered into a range of 8600-9000 till expiry with Neutral bias, Sell on rise and Buy on Dips...)