Tuesday, August 12, 2014

Option Open Interest for 12-08-2014

Inference
The index opened strong just below 7700 level and stayed in a narrow range for the better part of the only to see huge short covering rally in last hour to close near the highs of the day at 7727.05, a huge gain of 101.10 points. The broader market was just positive, with 854 advances to 655 declines. Range for the time being at 7600-8000.
  • Call option 7800, 8000 added huge 5.69 lacs OI with short covering seen at 7700 and below strike prices.
  • Put option 7800-7600 added huge 40.20 lacs OI with profit booking seen at 7500 and below strike price.
  • Nifty Open Interest is at 1,28,58,300 up by 3,43,200, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 15,56,275 up by 26,475, with increase in price, most probably long build-up.
  • FII’s bought huge 18.11 lacs Futures, which includes 10668 contracts long build-up and 25546 contracts short covering, with decrease in net OI by 14878 contracts (includes 72804 longs to 36590 shorts for the day) and the average price per contract comes to around 7718.38.
  • FII’s Index future open contract as on date is 136401 Longs to 99021 Shorts, net long 37380 contracts.
  • PCR Open Interest (Volume) has managed to move above 1 and now at 1.109.
  • Initial support at 7700, with huge OI addition of 14.60 lacs for the day whereas best support at 7600 with highest OI of 74.43 lacs.
  • Initial and good resistance at 7800, with huge OI of 53.46 lacs, whereas best resistance still at 8000 with OI of 70.03 lacs.
  • Day Range as per Option Table is 7644 - 7781 and as per VIX is 7673 - 7782 with 7706 as the Pivot.
Option Call for 13-08-2014
Buy Nifty 7700CE above 103 for targets of 121, 138 SL - 91
Buy Nifty 7700PE above 71 for targets of 87, 107 SL - 67

India VIX : 13.47 down by 0.53 points
Call OI : 34559350
Put OI : 38328800
PCR OI : 1.109
SMR : 12.15 (Bullish: Bulls got the desired follow-up and raced up above 7700 level with ease, with 7600 level now having the highest OI, all dips to be bought till the level is held...)