Tuesday, August 26, 2014

Option Open Interest for 26-08-2014

Inference
The index opened weak below 7900, but went up to touch the highs of the day at 7915 within the first hour of trade only to be sold off to the lows of the day around 7862. The responsive buyer took control and moved the index in green but was adjusted at 7904.75, loss of just 1.55 points. The broader market though was very weak, with 516 advances to 1045 declines. The range till Expiry has narrowed down to 7800-8000.
  • Call option 7900 added huge 10.66 lacs OI with profit booking seen at 8000 and above strike prices.
  • Put option 7800 added 1.95 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 1,05,11,100 down by 23,21,650, whereas Sep Series added 23.94 lacs with small decrease in price, 100% rollover with small short build-up.
  • Bank Nifty Open Interest is at 16,00,975 down by 2,29,300, whereas Sep Series added 1.76 lacs with decrease in price, mostly rollover with huge long liquidation.
  • FII’s bought 3.36 lacs Futures, which includes 3768 contracts long build-up and 2951 contracts short covering, with increase in net OI by 817 contracts (includes 121341 longs to 114622 shorts for the day) and the average price per contract comes to around 7909.19.
  • FII’s Index future open contract as on date is 205154 Longs to 91105 Shorts, net long 114049 contracts.
  • PCR Open Interest (Volume) is at 1.252.
  • Initial and best support at 7800, with huge OI of 64.20 lacs.
  • Initial resistance at 7900, with huge OI of 60.09 lacs and above that at 8000 with highest OI of 97.52 lacs.
  • Day Range as per Option Table is 7845 - 7947 and as per VIX is 7847 - 7962 with 7894 as the Pivot.
Option Call for 27-08-2014
Buy Nifty 7900CE above 31 for targets of 44, 56 SL - 26
Buy Nifty 7900PE above 31 for targets of 40, 54 SL - 27

India VIX : 13.90 up by 0.11 points
Call OI : 35975750
Put OI : 45055200
PCR OI : 1.252
SMR : 11.10 (Bullish: Nifty went to touch the lower part of range specified yesterday but came back to close near the Pivot of 7900, can we see the higher part of range tested tomorrow, 7900 still is the best level for Expiry...)