Monday, August 25, 2014

Option Open Interest for 25-08-2014

Inference
The index opened above all time high and stayed strong to make new highs with each passing hour, but huge profit booking during the last hour of trade saw the index nose-dive and close in the Red at 7906.30, a small loss of 6.90 points. The broader market was also negative, with 588 advances to 974 declines. Range has narrowed down to 7800-8000.
  • Call option 8000 added huge 8.64 lacs OI with short covering seen at 7800 and lower strike prices.
  • Put option 8000-7900 added huge 7.85 lacs OI with profit booking seen at 7800 and lower strike prices.
  • Nifty Open Interest is at 1,28,32,750 down by 15,33,550, whereas Sep Series added 11.78 lacs with small decrease in price, mostly rollover with small long liquidation.
  • Bank Nifty Open Interest is at 18,30,275 down by 2,55,325, whereas Sep Series added 2.25 lacs with huge decrease in price, mostly rollover with small long liquidation.
  • FII’s bought 2.38 lacs Futures, which includes 379 contracts long build-up and 4379 contracts short covering, with decrease in net OI by 4000 contracts (includes 78207 longs to 73449 shorts for the day) and the average price per contract comes to around 7911.92.
  • FII’s Index future open contract as on date is 201386 Longs to 94056 Shorts, net long 107330 contracts.
  • PCR Open Interest (Volume) is at 1.259.
  • Initial support at 7900, with huge OI of 54.86 lacs, whereas next support is at 7800 with huge OI of 62.25 lacs.
  • Initial and best resistance at 8000, with highest OI of 99.15 lacs.
  • Day Range as per Option Table is 7867 - 7973 and as per VIX is 7849 - 7963 with 7924 as the Pivot.
Option Call for 26-08-2014
Buy Nifty 7900CE above 59 for targets of 77, 105 SL - 53
Buy Nifty 8000PE above 92 for targets of 110, 129 SL - 80

India VIX : 13.79 up by 0.17 points
Call OI : 37790300
Put OI : 47563350
PCR OI : 1.259
SMR : 10.96 (Bullish: So as said Higher Level profit booking saw the index close in red, but still above 7900 and looking at option table, the index may stay within a range of 7840-7960 for the next two days...)