Wednesday, September 21, 2016

Option Open Interest for 21-09-2016

Inference
The index opened positive and went up to the touch the highs at 8827 but profit booking saw it close flat at 8777.15, small gain of 1.25 points. The broader market was positive with 832 advances to 799 declines. Range stays at 8600-9000.
  • Call option 8700-9100 added 13.39 lacs OI with profit booking at 9200 and above strike price.
  • Put option 9000-8500 added 13.67 lacs OI with profit booking at 8400 strike price.
  • Nifty Open Interest is at 3,24,24,525 up by 1,31,325, with no change in price, probably long build-up.
  • Bank Nifty Open Interest is at 21,54,880 up by 18,640, with decrease in price, probably short build-up.
  • FII’s bought 6360 contracts of Index Futures, which includes net 5618 contracts long build-up and 742 contracts short covering, with increase in net OI by 4876 contracts, includes 30230 longs to 23870 shorts for the day.
  • FII’s Index future open contract as on date is 402987 Longs to 74269 Shorts, Net long 328718 contracts.
  • Initial support at 8700, with OI of 53.88 lacs and below that at 8600 with OI of 62.01 lacs.
  • Initial resistance at 8900, with OI of 55.57 lacs and above that at 9000 with OI of 63.26 lacs.
  • Day Range as per Option Table is 8728 - 8841 and as per VIX is 8709 - 8845 with 8787 as the Pivot.
India VIX : 14.81 up by 0.03 points
Call OI : 40435575
Put OI : 51244650
PCR OI : 1.2673
SMR : 11.69 (Neutral to Bullish : The index is perfectly poised at 8800 level with OI evenly matched, a decisive move possible in the next few days, though range stays 8500-9000...)