Tuesday, September 2, 2014

Option Open Interest for 02-09-2014

Inference
The index opened positive and saw buying interest from the morning itself to scale 8100 level, but closed just lower at 8083.05, huge gain of 55.35 points. The broader market was also positive, with 925 advances to 627 declines. The initial range for series comes to 7900-8300.
  • Call option 8100-8500 added huge 20.00 lacs OI with short covering seen at 8000 and lower strike prices.
  • Put option 8400-7600 added huge 58.66 lacs OI with profit booking seen at 7500 and lower strike prices.
  • Nifty Open Interest is at 1,66,87,750 up by 3,46,800, with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 19,40,400 up by 76,900, with increase in price, probably huge long build-up.
  • FII’s bought 2.34 lacs Futures, which includes 9135 contracts long build-up and 4460 contracts short build-up, with increase in net OI by 13595 contracts (includes 49154 longs to 44479 shorts for the day) and the average price per contract comes to around 8119.88.
  • FII’s Index future open contract as on date is 246149 Longs to just 45464 Shorts, net long 200685 contracts.
  • PCR Open Interest (Volume) now looking good at 1.153.
  • Initial and best support at 8000, with highest OI of 56.28 lacs and below that at 7900 with huge OI of 52.62 lacs.
  • Initial resistance though looking weak at 8100, with OI of 43.23 lacs and above that at 8200 with huge OI of 45.18 lacs.
  • Day Range as per Option Table is 8030 - 8127 and as per VIX is 8026 - 8140 with 8074 as the Pivot.
Option Call for 03-09-2014
Buy Nifty 8100CE above 113 for targets of 129, 146 SL - 105
Buy Nifty 8100PE above 103 for targets of 116, 139 SL - 97

India VIX : 13.45 down by 0.08 points
Call OI : 30018050
Put OI : 34615100
PCR OI : 1.153
SMR : 11.66 (Bullish: Bulls are on a roll, with 8000 level now looking more or less secured for the week and maybe for the series, but higher level profit booking can be seen...)