Sunday, September 21, 2014

Option Open Interest for 19-09-2014

Inference
The index opened up around 8130 and stayed in a narrow range with positive bias making a high around 8160 but closing much below at 8121.45, a small gain of 6.70 points. The broader market was weak, with 706 advances to 846 declines. The range for the series is at 8000-8200.
  • Call option 8200-8500 added huge 9.80 lacs OI with huge short covering seen at 8100 and below strike prices.
  • Put option 8100-8000 added huge 6.40 lacs OI with profit booking seen at 7900 and below strike prices.
  • Nifty Open Interest is at 1,27,47,600 down by 8,41,600, whereas Oct series added 6.58 lacs with no much change in price, probably rollover with long Liquidation.
  • Bank Nifty Open Interest is at 15,71,825 down by 50,300, whereas Oct series added 0.54 lacs with small decrease in price, probably 100% rollover with small short build-up.
  • FII’s sold 0.53 lacs Futures, which includes 2011 contracts long liquidation and 956 contracts short covering, with decrease in net OI by 2967 contracts (includes 57050 longs to 58105 shorts for the day) and the average price per contract comes to around 8129.62.
  • FII’s Index future open contract as on date is 184058 Longs to 76864 Shorts, net long 107194 contracts.
  • Initial support at 8100, with huge OI of 53.81 lacs and below that at 8000 with highest OI of 84.27 lacs.
  • Initial and best resistance at 8200, with huge OI of 75.23 lacs and above that at 8300 with huge OI of 57.35 lacs.
  • Day Range as per Option Table is 8069 - 8189 and as per VIX is 8071 - 8172 with 8129 as the Pivot.
Option Call for 22-09-2014
Buy Nifty 8100CE above 66 for targets of 78, 98 SL - 59
Buy Nifty 8200PE above 82 for targets of 99, 116 SL - 75

India VIX : 11.89 down by 0.44 points
Call OI : 36674150
Put OI : 41354700
PCR OI : 1.128
SMR : 10.54 (Bullish: A consolidation day after the huge upmove seen the day before, with the index sitting pretty in the middle of the two walls at 8000 and 8200, Range bound moves till Expiry possible...)