Sunday, September 28, 2014

Option Open Interest for 26-09-2014

Inference
The index opened weak below 7900 and after an initial move towards 7945; the seller took control to move it towards the lows of the day around 7840. The responsive buyer came back to move the index above 7900 and close near the highs of the day at 7968.85, a huge gain of 57.00 points. The broader market was also positive, with 867 advances to 693 declines. The initial series range still remains at 7800-8200.
  • Call option 7800-8500 added huge 36.08 lacs OI with profit booking seen at 8600 and above strike prices.
  • Put option 7800-7400 added huge 24.12 lacs OI with short covering seen at 8000 and above strike prices.
  • Nifty Open Interest is at 1,64,09,700 up by 6,30,800, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 15,37,650 down by 45,825, with increase in price, probably huge short covering.
  • FII’s sold 2.69 lacs Futures, which includes 5183 contracts long liquidation and 192 contracts short addition, with decrease in net OI by 4991 contracts (includes 43734 longs to 59109 shorts for the day) and the average price per contract comes to around 8012.65.
  • FII’s Index future open contract as on date is 211205 Longs to 70110 Shorts, net long 141095 contracts.
  • Initial support still at 7900, with OI of 37.00 lacs and below that at 7800 with huge OI of 46.06 lacs.
  • Initial resistance at 8100, with huge OI of 36.99 lacs and above that at 8200 with highest OI of 46.15 lacs.
  • NS Day Range as per Option Table is 7866 - 8023 and as per VIX is 7915 - 8023 with 7935 as the Pivot.
Option Call for 29-09-2014
Buy Nifty 8100CE above 88 for targets of 101, 122 SL - 78
Buy Nifty 8000PE above 128 for targets of 151, 185 SL - 119

India VIX : 12.93 down by 0.37 points
Call OI : 27238150
Put OI : 27972750
PCR OI : 1.027
SMR : 12.59 (Neutral: The Bulls though had a positive close after the huge downside of the last 3 days, but OI table still need work to be done, else the Bears will be back, Range developing right now is 7800-8200...)