Monday, September 15, 2014

Option Open Interest for 15-09-2014

Inference
The index opened gap-down below 8100 and went on to touch the lows of the day at 8030. Buying interest was seen at lower levels but the index still closed in deep red at 8042.00, a huge loss 63.50 points. The broader market though was positive, with 852 advances to 731 declines. The range for the series is still at 8000-8300.
  • Call option 8000-8200 added huge 11.52 lacs OI with profit booking seen at 8300 strike price.
  • Put option did not add any OI but huge short covering was seen at 8100 and above strike prices.
  • Nifty Open Interest is at 1,34,47,800 down by 2,43,750, with decrease in price, probably long liquidation.
  • Bank Nifty Open Interest is at 18,50,700 down by 38,400, with decrease in price, probably long liquidation.
  • FII’s sold huge 17.30 lacs Futures, which includes 13877 contracts long liquidation and 20718 contracts short build-up, with increase in net OI by 6841 contracts (includes 35660 longs to 70255 shorts for the day) and the average price per contract comes to around 8069.59.
  • FII’s Index future open contract as on date is 171204 Longs to 76175 Shorts, net long 95029 contracts.
  • Initial and best support at 8000, with highest OI of 74.03 lacs and below that at 7900 with OI of 54.41 lacs.
  • Initial resistance at 8100, with OI of 53.94 lacs and above that at 8200 with huge OI of 67.56 lacs.
  • Day Range as per Option Table is 8001 - 8096 and as per VIX is 7986 - 8098 with 8050 as the Pivot.
Option Call for 16-09-2014
Buy Nifty 8000CE above 109 for targets of 121, 145 SL - 99
Buy Nifty 8100PE above 84 for targets of 96, 108 SL - 79

India VIX : 13.26 up by 0.89 points
Call OI : 37426500
Put OI : 38492700
PCR OI : 1.028
SMR : 12.89 (Bearish: The CE writers seems to have taken control of the higher levels, with 8200 OI now at 67.56 lacs, though huge liquidation was seen at 8000PE level, but still is the best support...)