Monday, August 11, 2014

Option Open Interest for 11-08-2014

Inference
The index opened strong above 7600 and stayed well over it for the entire session of trade to close near the high at 7625.95, a huge gain of 57.40 points. The broader market was also strong, with 933 advances to 607 declines. Range for the time being still at 7500-8000.
  • Call option 7800-8100 added huge 19.65 lacs OI with short covering seen at 7700 and below strike prices.
  • Put option 7700-7200 added huge 17.25 lacs OI with profit booking seen at 7100 and below strike price.
  • Nifty Open Interest is at 1,25,15,100 up by 3,12,100, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 15,29,800 down by 35,775, with increase in price, most probably short covering.
  • FII’s bought 2.16 lacs Futures, which includes 3234 contracts long build-up and 1077 contracts short covering, with increase in net OI by 2157 contracts (includes 31564 longs to 27253 shorts for the day) and the average price per contract comes to around 7610.27.
  • FII’s Index future open contract as on date is 125733 Longs to 124567 Shorts, net long 1166 contracts.
  • PCR Open Interest (Volume) is still below 1 at 0.929.
  • Initial support at 7600, with huge OI of 53.00 lacs whereas best support at 7500 with OI of 57.34 lacs.
  • Initial resistance now at 7700, with huge OI of 40.84 lacs, whereas best resistance still at 8000 with highest OI of 65.86 lacs.
  • Day Range as per Option Table is 7557 - 7691 and as per VIX is 7570 - 7682 with 7620 as the Pivot.
Option Call for 12-08-2014
Buy Nifty 7600CE above 106 for targets of 116, 130 SL - 99
Buy Nifty 7600PE above 74 for targets of 83, 97 SL - 69

India VIX : 14.00 down by 0.62 points
Call OI : 36524100
Put OI : 33930950
PCR OI : 0.929
SMR : 15.07 (Neutral: Though the index closed in green but need a follow-up action tomorrow for the Bulls to be back in business, till then its balanced around the centre point of the range...)