Monday, September 29, 2014

Option Open Interest for 29-09-2014

Inference
The index opened flat to positive and stayed in a narrow range for the better part of the day, only to dip towards the lows around 7935 in the dying minutes but moved up to close just below at 7958.90, a small loss of 9.95 points. The broader market though was positive, with 1005 advances to 536 declines. The initial series range still remains at 7800-8200.
  • Call option 8100-8600 added huge 19.00 lacs OI with small short covering seen at 7800 strike price.
  • Put option 8000-7500 added huge 17.42 lacs OI with short covering seen at 8100 and above strike prices.
  • Nifty Open Interest is at 1,55,03,850 down by 9,05,850, with decrease in price, probably long liquidation.
  • Bank Nifty Open Interest is at 15,39,950 up by 2,300, with decrease in price, probably small short build-up.
  • FII’s bought 1.21 lacs Futures, which includes 6335 contracts long liquidation and 8759 contracts short covering, with decrease in net OI by 15094 contracts (includes 36393 longs to 33969 shorts for the day) and the average price per contract comes to around 7964.30.
  • FII’s Index future open contract as on date is 204870 Longs to 61351 Shorts, net long 143519 contracts.
  • Initial support still at 7900, with OI of 38.23 lacs and below that at 7800 with highest OI of 50.97 lacs.
  • Initial resistance at 8100, with huge OI of 43.05 lacs and above that at 8200 with huge OI of 50.80 lacs.
  • Day Range as per Option Table is 7889 - 8036 and as per VIX is 7901 - 8017 with 7962 as the Pivot.
Option Call for 30-09-2014
Buy Nifty 8100CE above 71 for targets of 86, 104 SL - 65
Buy Nifty 8000PE above 118 for targets of 134, 155 SL - 111

India VIX : 13.39 up by 0.46 points
Call OI : 29642750
Put OI : 30344800
PCR OI : 1.024
SMR : 13.08 (Neutral: Participant for the day were more interested in fortifying the boundaries and waiting for the all important RBI policy to be declared tomorrow, prominent range right now at 7800-8200...)