Thursday, September 11, 2014

Option Open Interest for 11-09-2014

Inference
The index opened up above 8100 level, but saw selling pressure from the morning itself to move to the lows of day at 8057. Some buying interest around the lows saw index trying to move up above 8100 but was unable to sustain and closed at 8085.70, a small loss of 8.40 points. The broader market though was highly positive, with 1066 advances to 504 declines. The range for the series is now at 8000-8300.
  • Call option 8200-8300 added huge 6.96 lacs OI with profit booking seen at 8400 and above strike prices.
  • Put option 8100, 7900-7800 added huge 4.66 lacs OI with short covering seen at 8200 and above strike prices.
  • Nifty Open Interest is at 1,39,26,450 down by 5,60,000, with decrease in price, probably huge long liquidation.
  • Bank Nifty Open Interest is at 18,86,650 down by 77,525, with increase in price, probably short covering.
  • FII’s bought small 0.39 lacs Futures, which includes 6142 contracts long liquidation and 6915 contracts short covering, with decrease in net OI by 13057 contracts (includes 40242 longs to 39469 shorts for the day) and the average price per contract comes to around 8122.08.
  • FII’s Index future open contract as on date is 193793 Longs to just 51934 Shorts, net long 141859 contracts.
  • Initial and best support at 8000, with highest OI of 81.77 lacs and below that at 7900 with huge OI of 60.24 lacs.
  • Initial but weak resistance at 8100, with OI of 45.02 lacs and above that at 8200 with huge OI of 63.29 lacs.
  • Day Range as per Option Table is 8039 - 8137 and as per VIX is 8033 - 8139 with 8090 as the Pivot.
Option Call for 12-09-2014
Buy Nifty 8100CE above 86 for targets of 107, 145 SL - 79
Buy Nifty 8100PE above 71 for targets of 87, 110 SL - 65

India VIX : 12.52 down by 0.41 points
Call OI : 35425400
Put OI : 41296150
PCR OI : 1.166
SMR : 10.74 (Neutral: Bearish pressure remained for the second day in a row with the CE writers adding huge at 8200 level, though strong support still remains around 8000, Range bound play possible...)