Sunday, August 24, 2014

Option Open Interest for 22-08-2014

Inference
The index opened just above 7900 and stayed in a very narrow range of just 29 points for the entire session of trade not falling below 7900 to close at 7913.20, a small gain of 22.10 points. On a week on week basis the index gained 121.50 points or approx 1.56%. The broader market though was negative, with 746 advances to 806 declines. Range has narrowed down to 7800-8000.
  • Call option 8100 added huge 6.84 lacs OI with short covering seen at 7900 and lower strike prices.
  • Put option 8000-7900 added huge 6.91 lacs OI with profit booking seen at 7800 and lower strike prices.
  • Nifty Open Interest is at 1,43,66,300 down by 3,17,450, whereas Sep Series added 4.61 lacs with small increase in price, 100% rollover with small long addition.
  • Bank Nifty Open Interest is at 20,85,600 up by 59,400, whereas Sep Series added 0.71 lacs with huge increase in price, mostly long addition in both series.
  • FII’s bought huge 5.64 lacs Futures, which includes 9621 contracts long build-up and 1664 contracts short covering, with increase in net OI by 7957 contracts (includes 47675 longs to 36390 shorts for the day) and the average price per contract comes to around 7928.72.
  • FII’s Index future open contract as on date is 201007 Longs to 98435 Shorts, net long 102572 contracts.
  • PCR Open Interest (Volume) is at 1.255.
  • Initial and best support at 7800, with huge OI of 71.01 lacs, whereas next support is at 7700 with huge OI of 69.65 lacs.
  • Initial and best resistance at 8000, with highest OI of 90.51 lacs.
  • Day Range as per Option Table is 7861 - 7967 and as per VIX is 7857 - 7970 with 7914 as the Pivot.
Option Call for 25-08-2014
Buy Nifty 7900CE above 59 for targets of 69, 79 SL - 54
Buy Nifty 8000PE above 93 for targets of 102, 116 SL - 87

India VIX : 13.62 down by 0.11 points
Call OI : 38849200
Put OI : 48738200
PCR OI : 1.255
SMR : 10.86 (Bullish: The index closed above 7900 for the first time, with the PE writers mostly in command, best and only resistance till expiry is at 8000. Profit booking at higher levels may emerge...)