Tuesday, September 23, 2014

Option Open Interest for 23-09-2014

Inference
The index opened flat but saw huge selling pressure to make new lows every hour to close just above the psychological level of 8000 at 8017.55, huge loss of 128.75 points. The broader market was also very weak, with just 315 advances to 1256 declines. The range till Expiry comes around 7950-8150.
  • Call option 8000-8200 added huge 41.36 lacs OI with profit booking seen at 8300 and above strike prices.
  • Put option 7900 added huge 6.48 lacs OI with short covering seen at 8100 and above strike prices.
  • Nifty Open Interest is at 1,01,16,850 down by 9,73,300, whereas Oct series added 28.33 lacs with decrease in price, probably 100% rollover with huge short build-up.
  • Bank Nifty Open Interest is at 14,25,500 down by 83,225, whereas Oct series added 1.94 lacs with decrease in price, probably 100% rollover with huge short build-up.
  • FII’s sold 3.96 lacs Futures, which includes 17524 contracts long build-up and 25453 contracts short build-up, with increase in net OI by 42977 contracts (includes 145225 longs to 153154 shorts for the day) and the average price per contract comes to around 8046.87.
  • FII’s Index future open contract as on date is 246640 Longs to 143853 Shorts, net long 102787 contracts.
  • Initial and best support at 8000, with huge OI of 67.88 lacs and below that at 7900 with huge OI of 57.88 lacs.
  • Initial resistance at 8050, with huge OI addition of 14.36 lacs and above that at 8100 with huge OI of 59.58 lacs.
  • Day Range as per Option Table is 7983 - 8117 and as per VIX is 7965 - 8070 with 8062 as the Pivot.
Option Call for 24-09-2014
Buy Nifty 8000CE above 87 for targets of 105, 128 SL - 79
Buy Nifty 8100PE above 76 for targets of 98, 126 SL - 56

India VIX : 12.41 up by 0.84 points
Call OI : 37991350
Put OI : 35994500
PCR OI : 0.947
SMR : 13.10 (Bearish: Huge short addition coupled with long liquidation saw the Option Table turning red and PCR after many days back below 1, though best support still remains at 8000 level...)