Wednesday, August 13, 2014

Option Open Interest for 13-08-2014

Inference
The index opened flat to negative and stayed in a narrow range but saw some profit booking around noon. The buyers came back to move the index in green and closed positive at 7739.55, a small gain of 12.50 points. The broader market though was very weak, with just 352 advances to 1202 declines. Range for the time being at 7600-8000.
  • Call option 7800-8000 added huge 7.04 lacs OI with profit booking seen at 8200 and above strike prices.
  • Put option 7800-7700, 7500-7400 added huge 17.77 lacs OI with profit booking seen at 7300 and below strike price.
  • Nifty Open Interest is at 1,41,34,150 up by 12,75,850, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 15,89,550 up by 33,275, with decrease in price, most probably short build-up.
  • FII’s bought huge 9.23 lacs Futures, which includes 27460 contracts long build-up and 9005 contracts short build-up, with increase in net OI by 36465 contracts (includes 61118 longs to 42663 shorts for the day) and the average price per contract comes to around 7707.57.
  • FII’s Index future open contract as on date is 163861 Longs to 108026 Shorts, net long 55835 contracts.
  • PCR Open Interest (Volume) is near the highs of the series at 1.148.
  • Initial support at 7700, with huge OI of 50.32 lacs, whereas best support at 7600 with huge OI of 72.64 lacs.
  • Initial and good resistance at 7800, with huge OI of 53.71 lacs, whereas best resistance still at 8000 with highest OI of 72.83 lacs.
  • Day Range as per Option Table is 7668 - 7797 and as per VIX is 7684 - 7795 with 7731 as the Pivot.
Option Call for 14-08-2014
Buy Nifty 7700CE above 103 for targets of 122, 144 SL - 95
Buy Nifty 7700PE above 62 for targets of 73, 88 SL - 57

India VIX : 13.76 up by 0.29 points
Call OI : 35045150
Put OI : 40241400
PCR OI : 1.148
SMR : 11.98 (Bullish: After a huge up-move, it was consolidation within a narrow range but the Bulls added huge OI at 7700PE level, Buy the Dips till the Level is Held...)