Wednesday, September 28, 2016

Option Open Interest for 28-09-2016

Inference
The index opened flat but moved up with each passing hour to close at 8745.15, gain of 38.75 points. The broader market was strong with 1037 advances to 583 declines. Range for expiry 8700-8800.
  • Call option did not add any OI, whereas short covering was seen at 8800 and below strike prices.
  • Put option 8700-8300 added 18.22 lacs OI with short covering at 8900 and above strike prices.
  • Nifty Open Interest is at 1,72,71,300 down by 33,24,525, whereas Oct series added 40.35 lacs with increase in price, 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 12,17,800 down by 5,73,360, whereas Oct series added 2.96 lacs with increase in price, small roll-over with huge short covering.
  • FII’s bought 2717 contracts of Index Futures, which includes net 7987 contracts long build-up and 5270 contracts short build-up, with increase in net OI by 13257 contracts, includes 79693 longs to 76976 shorts for the day.
  • FII’s Index future open contract as on date is 399614 Longs to 91234 Shorts, Net long 308380 contracts.
  • Initial support at 8700, with OI of 58.01 lacs and below that at 8600 with OI of 54.07 lacs.
  • Initial resistance at 8800, with OI of 46.39 lacs and above that at 8900 with OI of 44.47 lacs.
  • Day Range as per Option Table is 8682 - 8799 and as per VIX is 8682 - 8812 with 8738 as the Pivot.
India VIX : 13.85 down by 0.40 points
Call OI : 33935475
Put OI : 45784200
PCR OI : 1.3492
SMR : 10.27 (Neutral to Bullish : The range for expiry has boiled down to 8700-8800 with bulls having a nice edge, expiry could happen near the extremes...)