Sunday, September 14, 2014

Option Open Interest for 12-09-2014

Inference
The index opened flat and went up to 8100 level, but saw selling pressure to move towards the lows of the day around 8072. The responsive buyers took control from thereon to move the index back in green and closed at 8105.50, gain of 19.80 points. The broader market was also positive, with 863 advances to 710 declines. The range for the series is still at 8000-8300.
  • Call option 8100-8300 added huge 12.33 lacs OI with short covering seen at 8000 and below strike prices.
  • Put option 8200-7800 added huge 11.42 lacs OI with profit booking seen at 7700 and below strike prices.
  • Nifty Open Interest is at 1,36,91,550 down by 2,34,900, with increase in price, probably short covering.
  • Bank Nifty Open Interest is at 18,89,100 up by 2,450, with increase in price, probably small long build-up.
  • FII’s sold huge 6.12 lacs Futures, which includes 8712 contracts long liquidation and 3523 contracts short build-up, with decrease in net OI by 5189 contracts (includes 24483 longs to 36718 shorts for the day) and the average price per contract comes to around 8140.70.
  • FII’s Index future open contract as on date is 185081 Longs to just 55457 Shorts, net long 129624 contracts.
  • Initial support at 8100, with OI of 45.91 lacs and below that at 8000 with highest OI of 84.26 lacs.
  • Initial and good resistance at 8200, with OI of 62.75 lacs and above that at 8300 with huge OI of 66.68 lacs.
  • Day Range as per Option Table is 8051 - 8145 and as per VIX is 8053 - 8158 with 8097 as the Pivot.
Option Call for 15-09-2014
Buy Nifty 8100CE above 92 for targets of 102, 113 SL - 86
Buy Nifty 8100PE above 59 for targets of 69, 85 SL - 54

India VIX : 12.37 down by 0.15 points
Call OI : 36764850
Put OI : 42421350
PCR OI : 1.154
SMR : 10.72 (Neutral: The Level of 8100 is acting like a Magnet; with the index oscillating around it, and based on OI Table it may see some more range bound play till the level is resolved...)