Thursday, September 18, 2014

Option Open Interest for 18-09-2014

Inference
The index opened down around 7950, but saw huge buying interest within the first few minutes to scale the psychological level of 8000 with ease and went up with each passing hour to close above 8100 at 8114.75, a huge gain of 139.25 points. The broader market was also strong, with 1246 advances to 308 declines. The range for the series is back at 8000-8200.
  • Call option 8300 added huge 9.28 lacs OI with huge short covering seen at 8100 and below strike prices.
  • Put option 8200-7900 added huge 48.42 lacs OI with profit booking seen at 7800 and below strike prices.
  • Nifty Open Interest is at 1,35,89,200 up by 9,53,200, whereas Oct series also added 7.68 lacs with increase in price, probably huge long build-up in both series.
  • Bank Nifty Open Interest is at 16,22,125 down by 38,675, whereas Oct series added 0.67 lacs with huge increase in price, probably 100% rollover with long build-up.
  • FII’s bought huge 7.94 lacs Futures, which includes 22204 contracts long build-up and 6327 contracts short build-up, with increase in net OI by 28531 contracts (includes 67653 longs to 51776 shorts for the day) and the average price per contract comes to around 8136.47.
  • FII’s Index future open contract as on date is 186069 Longs to 77820 Shorts, net long 108249 contracts.
  • Initial support now at 8100, with huge OI addition of 27.80 lacs for the day and below that at 8000 with highest OI of 83.06 lacs.
  • Initial and best resistance at 8200, with huge OI of 66.99 lacs and above that at 8300 with huge OI of 56.89 lacs.
  • Day Range as per Option Table is 8011 - 8137 and as per VIX is 8062 - 8167 with 8058 as the Pivot.
Option Call for 19-09-2014
Buy Nifty 8100CE above 71 for targets of 92, 114 SL - 52
Buy Nifty 8100PE above 74 for targets of 104, 136 SL - 69

India VIX : 12.33 down by 0.62 points
Call OI : 36115000
Put OI : 42779850
PCR OI : 1.185
SMR : 10.41 (Bullish: The Bulls came back with a vengeance and turned the table upside down with huge-huge addition at 8100-8000 Level and left the Bears licking their wounds; Back to Buy the Dips...)