Thursday, October 9, 2014

Option Open Interest for 09-10-2014

Inference
The index opened huge up around 7886, and stayed in a narrow range of 40 points, huge buying around noon saw the index climb above 7950 to make a high of 7972 but closed just below at 7960.55, a huge gain of 117.85 points. The broader market was also positive, with 1192 advances to 350 declines. The series range is back to 7800-8200.
  • Call option 8300-8500 added huge 5.35 lacs OI with short covering seen at 8000 and below strike prices.
  • Put option 7900-7800 added huge 8.95 lacs OI with profit booking seen at 7700 and below strike prices.
  • Nifty Open Interest is at 1,64,18,500 up by 96,850, with increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 15,81,625 up by 14,975, with increase in price, probably long build-up.
  • FII’s bought huge 7.16 lacs Futures, which includes 12483 contracts long build-up and 1842 contracts short covering, with increase in net OI by 10641 contracts (includes 47194 longs to 32869 shorts for the day) and the average price per contract comes to around 7983.79.
  • FII’s Index future open contract as on date is 226807 Longs to 62424 Shorts, net long 164383 contracts.
  • Initial support now at 7900, with huge OI of 47.95 lacs and below that at 7800 with highest OI of 58.41 lacs.
  • Initial resistance though looking weak but still at 8000, with OI of 39.37 lacs and above that at 8100 with huge OI of 51.71 lacs.
  • Day Range as per Option Table is 7877 - 8014 and as per VIX is 7906 - 8015 with 7940 as the Pivot.
Option Call for 10-10-2014
Buy Nifty 8000CE above 86 for targets of 98, 115 SL - 79
Buy Nifty 8000PE above 110 for targets of 129, 145 SL - 104

India VIX : 13.16 down by 0.95 points
Call OI : 35410000
Put OI : 36377100
PCR OI : 1.027
SMR : 13.93 (Neutral: The Bulls are back in the hunt, but need a follow up action tomorrow with the Option Table nicely poised around 8000 level, boundaries back at 7800-8200...)