Wednesday, August 27, 2014

Option Open Interest for 27-08-2014

Inference
The index opened strong above 7930, and went on to stay within a narrow range of 20 points for the better part of the day, with only dip towards the lows strongly grabbed by the Buyers. The index closed at all-time high at 7936.05, gain of 31.30 points. The broader market though was also positive, with 852 advances to 695 declines. The range for Expiry boils down to 7890-8000.
  • Call option 8000 added huge 6.81 lacs OI with short covering seen at 7900 and below strike prices.
  • Put option 8000-7900 added huge 12.87 lacs OI with profit booking seen at 7800 and below strike prices.
  • Nifty Open Interest is at 88,54,000 down by 16,57,100, whereas Sep Series added 42.72 lacs with increase in price, 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 14,11,475 down by 1,89,500, whereas Sep Series added 3.32 lacs with increase in price, 100% rollover with huge long build-up.
  • FII’s bought huge 5.38 lacs Futures, which includes 31663 contracts long build-up and 20908 contracts short build-up, with increase in net OI by 52571 contracts (includes 148818 longs to 138063 shorts for the day) and the average price per contract comes to around 7946.50.
  • FII’s Index future open contract as on date is 236817 Longs to 112013 Shorts, net long 124804 contracts.
  • PCR Open Interest (Volume) is at 1.317.
  • Initial and best support at 7900, with huge OI of 59.60 lacs.
  • Initial and best resistance at 8000, with highest OI of 1.04 crore.
  • Day Range as per Option Table is 7886 - 7983 and as per VIX is 7882 - 7990 with 7933 as the Pivot.
Preview of September Option Table
Option Call for 28-08-2014
Buy Nifty 7900CE above 39 for targets of 53, 68 SL - 35
Buy Nifty 7950PE above 31 for targets of 40, 51 SL - 26

India VIX : 13.06 down by 0.84 points
Call OI : 33833550
Put OI : 44546000
PCR OI : 1.317
SMR : 9.92 (Bullish: The Index tested both ends of the range in the last 2 days, with a close near the higher side paving the way for a most probable Expiry above 7950...)