Sunday, October 12, 2014

Option Open Interest for 10-10-2014

Inference
The index opened around 7911 on the back of weak global cues, and after the initial dip tried to move up only to be sold-off to the lows of the day at 7848. Nifty closed just above days low at 7859.95, a huge loss of 100.60 points. The broader market was also weak, with 397 advances to 1137 declines. The series range is at 7800-8200.
  • Call option 7800-8400 added huge 21.68 lacs OI with profit booking seen at 8500 and above strike prices.
  • Put option 7800-7600, 7400 added huge 25.19 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 1,54,34,050 down by 9,84,450, with decrease in price, probably huge long liquidation.
  • Bank Nifty Open Interest is at 15,22,150 down by 59,475, with decrease in price, probably long liquidation.
  • FII’s sold huge 18.55 lacs Futures, which includes 30632 contracts long liquidation and 6463 contracts short build-up, with decrease in net OI by 24169 contracts (includes 31949 longs to 69044 shorts for the day) and the average price per contract comes to around 7871.95.
  • FII’s Index future open contract as on date is 196175 Longs to 68887 Shorts, net long 127288 contracts.
  • Initial and best support at 7800, with highest OI of 59.28 lacs and below that at 7700 with OI of 54.09 lacs.
  • Initial resistance at 7900, with huge OI addition of 8.13 lacs and above that at 8000 with huge OI of 47.30 lacs.
  • Day Range as per Option Table is 7803 - 7944 and as per VIX is 7801 - 7919 with 7877 as the Pivot.
Option Call for 13-10-2014
Buy Nifty 7900CE above 100 for targets of 113, 133 SL - 95
Buy Nifty 7900PE above 106 for targets of 121, 136 SL - 96

India VIX : 14.33 up by 1.17 points
Call OI : 37510600
Put OI : 38514050
PCR OI : 1.027
SMR : 13.96 (Bearish: The Bulls lost the game as no follow-up action was seen and the Bears took the chance to add huge at 7900-8000CE and the index comfortably below 7900, Bulls if they don’t come back then break of 7800 is very much on card...)