Sunday, September 25, 2016

Option Open Interest for 23-09-2016

Inference
The index opened positive and stayed in a narrow range for the better part of the day, but saw huge profit booking in the later part to close at 8831.55, loss of 35.90 points. The broader market was negative with 619 advances to 998 declines. Range stays at 8500-9000.
  • Call option 9000 added 1.62 lacs OI with profit booking at 9100 and above strike prices.
  • Put option 8300-8200 added 2.61 lacs OI with short covering at 8800 and above strike prices.
  • Nifty Open Interest is at 3,13,41,150 down by 8,88,600, whereas Oct series added 6.44 lacs with decrease in price, mostly roll-over with long liquidation.
  • Bank Nifty Open Interest is at 22,36,240 up by 1,08,760, whereas Oct series added 0.32 lacs with decrease in price, probably short build-up in both series.
  • FII’s bought 5245 contracts of Index Futures, which includes net 4820 contracts long build-up and 425 contracts short covering, with increase in net OI by 4395 contracts, includes 30560 longs to 25315 shorts for the day.
  • FII’s Index future open contract as on date is 405113 Longs to 74662 Shorts, Net long 330451 contracts.
  • Initial support still at 8800, with OI of 47.55 lacs and below that at 8700 with OI of 45.13 lacs.
  • Initial resistance at 8900, with OI of 51.02 lacs and above that at 9000 with OI of 66.65 lacs.
  • Day Range as per Option Table is 8784 - 8900 and as per VIX is 8770 - 8893 with 8846 as the Pivot.
India VIX : 13.25 down by 0.09 points
Call OI : 37354125
Put OI : 49719750
PCR OI : 1.3310
SMR : 9.95 (Bullish : Though the index closed in red, the OI table stays strong going into expiry week with huge support at 8700-8600 range, resistance still at 8900-9000...)