Thursday, August 21, 2014

Option Open Interest for 21-08-2014

Inference
The index opened flat, but saw buying interest to move towards the highs of the day at 7820, but profit booking from higher levels pushed Nifty to the lows of the day around 7856. Some buying interest at lower levels saw the index close at 7891.10, a small gain of 15.80 points. The broader market was also positive, with 835 advances to 698 declines. Range still at 7700-8000.
  • Call option 7900-8200 added huge 13.30 lacs OI with short covering seen at 7800 and lower strike prices.
  • Put option 8000-7800 added huge 11.35 lacs OI with profit booking seen at 7700 and lower strike prices.
  • Nifty Open Interest is at 1,46,83,750 down by 3,85,750, whereas Sep Series added 3.13 lacs with small increase in price, mostly rollover with short covering.
  • Bank Nifty Open Interest is at 20,26,200 up by 1,50,175, whereas Sep Series added 0.77 lacs with huge increase in price, mostly long addition in both series.
  • FII’s sold 2.00 lacs Futures, which includes 958 contracts long liquidation and 3050 contracts short addition, with increase in net OI by 2092 contracts (includes 40201 longs to 44209 shorts for the day) and the average price per contract comes to around 7895.80.
  • FII’s Index future open contract as on date is 191386 Longs to 100099 Shorts, net long 91287 contracts.
  • PCR Open Interest (Volume) has moved a bit down to 1.297.
  • Initial and super support at 7800, with huge OI of 73.20 lacs, whereas best support is at 7700 with huge OI of 76.05 lacs.
  • Initial resistance still at 7900, with huge OI of 55.89 lacs, whereas best resistance at 8000 with highest OI of 92.29 lacs.
  • Day Range as per Option Table is 7832 - 7945 and as per VIX is 7834 - 7948 with 7889 as the Pivot.
Option Call for 22-08-2014
Buy Nifty 7900CE above 53 for targets of 65, 88 SL - 47
Buy Nifty 7900PE above 51 for targets of 65, 82 SL - 45

India VIX : 13.73 up by 0.07 points
Call OI : 38456400
Put OI : 49890150
PCR OI : 1.297
SMR : 10.58 (Bullish: The Index for the third day in a row went above 7900 but closed just below it, with huge tussle going on around 7900 level, a gap-up may seal it for the Bulls or else range bound volatile moves will be order of the day...)