Wednesday, September 3, 2014

Option Open Interest for 03-09-2014

Inference
The index opened up above 8110 and stayed positive for the entire session of trade with dips being bought by the Bulls. Nifty for the sixth day in a row closed in the green at 8114.60, gain of 31.55 points. The broader market though was just negative, with 762 advances to 791 declines. The initial range for series comes to 7900-8300.
  • Call option 8100-8500 added huge 13.62 lacs OI with short covering seen at 8000 and lower strike prices.
  • Put option 8200-7800 added huge 22.90 lacs OI with profit booking seen at 7700 and lower strike prices.
  • Nifty Open Interest is at 1,68,91,850 up by 2,04,100, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 19,37,375 down by 3,025, with decrease in price, probably small long liquidation.
  • FII’s sold 4.10 lacs Futures, which includes 951 contracts long build-up and 9150 contracts short build-up, with increase in net OI by 10101 contracts (includes 33724 longs to 41923 shorts for the day) and the average price per contract comes to around 8136.96.
  • FII’s Index future open contract as on date is 247100 Longs to just 54614 Shorts, net long 192486 contracts.
  • Initial support at 8100, with huge addition of 6.41 lacs OI for the day and below that at 8000 with highest OI of 65.71 lacs.
  • Initial and best resistance at 8200, with OI of 47.38 lacs and above that at 8300 with OI of 43.36 lacs.
  • Day Range as per Option Table is 8070 - 8168 and as per VIX is 8058 - 8171 with 8116 as the Pivot.
Option Call for 04-09-2014
Buy Nifty 8100CE above 125 for targets of 137, 154 SL - 118
Buy Nifty 8100PE above 83 for targets of 95, 108 SL - 77

India VIX : 13.39 down by 0.06 points
Call OI : 31428300
Put OI : 37048100
PCR OI : 1.179
SMR : 11.36 (Bullish: Bulls have more or less secured 8000 level for the time being, with OI above 65 lacs, nothing as such in any strike by the Bears, but higher level profit booking will be order of the day...)

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