Monday, October 24, 2016

Option Open Interest for 24-10-2016

Inference
The index opened positive and stayed positive making a high of 8736.95 but closed a DOJI at 8708.95, gain of 15.90 points. The broader market was positive with 936 advances to 701 declines. Range stays at 8500-8800.
  • Call option 8800-9100 added 8.15 lacs OI with short covering at 8700 and below strike prices.
  • Put option 8700-8300 added 12.13 lacs OI with profit booking at 8200 and below strike prices.
  • Nifty Open Interest is at 1,65,98,025 down by 16,30,125 whereas Nov series added 19.15 lacs OI with increase in price, probably 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 18,22,040 down by 20,440 whereas Nov series added 1.44 lacs OI with increase in price, probably 100% roll-over with huge long build-up.
  • FII’s sold 2704 contracts of Index Futures, which includes net 8969 contracts long build-up and 6265 contracts short build-up, with increase in net OI by 15234 contracts, includes 46191 longs to 43487 shorts for the day.
  • FII’s Index future open contract as on date is 193937 Longs to 79866 Shorts, Net long 114071 contracts.
  • Initial and best support at 8600 with OI of 57.62 lacs and below that at 8500 with OI of 53.27 lacs.
  • Initial resistance at 8800 with OI of 58.45 lacs and above that at 8900 with OI of 38.11 lacs.
  • Day Range as per Option Table is 8648 - 8772 and as per VIX is 8644 - 8774 with 8710 as the Pivot.
India VIX : 14.33 up by 0.50 points
Call OI : 37712100
Put OI : 40055100
PCR OI : 1.0621
SMR : 13.49 (Bullish : Bullish bias has gained strength in the last few days, though still within the smaller range of 8600-8800, but an Expiry around 8800 is possible...)