Tuesday, September 16, 2014

Option Open Interest for 16-09-2014

Inference
The index opened flat to lower, but saw huge selling pressure from the onset and went on to make lower lows with each passing hour. Nifty had one of the biggest loss in recent time and ultimately closed near the lows of the day at 7932.90, a huge loss 109.10 points. The broader market was also very weak, with just 226 advances to 1351 declines. The range for the series has moved down to 7900-8200.
  • Call option 7800-8200 added huge 43.67 lacs OI with profit booking seen at 8300 and above strike prices.
  • Put option 7900-7600 added 9.66 lacs OI with huge short covering seen at 8000 and above strike prices.
  • Nifty Open Interest is at 1,29,18,800 down by 5,29,000, with decrease in price, probably huge long liquidation.
  • Bank Nifty Open Interest is at 17,95,675 down by 55,025, with decrease in price, probably long liquidation.
  • FII’s sold 1.97 lacs Futures, which includes contracts 1341 long liquidation and 2608 contracts short build-up, with increase in net OI by 1267 contracts (includes 48099 longs to 52048 shorts for the day) and the average price per contract comes to around 7960.42.
  • FII’s Index future open contract as on date is 169863 Longs to 78783 Shorts, net long 91080 contracts.
  • Initial support now at 7900, with huge OI of 57.59 lacs and below that at 7800 with OI of 49.64 lacs.
  • Initial resistance at 8000, with huge OI addition of 21.36 lacs and above that at 8100 with huge OI of 62.09 lacs.
  • Day Range as per Option Table is 7906 - 8015 and as per VIX is 7878 - 7988 with 7968 as the Pivot.
Option Call for 17-09-2014
Buy Nifty 7900CE above 119 for targets of 146, 185 SL - 109
Buy Nifty 8000PE above 83 for targets of 100, 117 SL - 71

India VIX : 13.28 up by 0.02 points
Call OI : 40679950
Put OI : 37234100
PCR OI : 0.915
SMR : 14.51 (Bearish: The CE writers have taken control of the OI Table and the invincibility at 8000 level is gone, upside if any will be sold-off till the index is comfortably above 8100...)

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