Monday, October 13, 2014

Option Open Interest for 13-10-2014

Inference
The index opened weak around 7831 and went on to touch the lows of the day at 7796. The responsive buyers took control from thereon to move the index to green and close just below 7900 at 7884.25, a gain of 24.30 points. The broader market was just positive, with 804 advances to 732 declines. The series range is at 7800-8200.
  • Call option 7700-8200 added huge 13.92 lacs OI with profit booking seen at 8300 and above strike prices.
  • Put option 7900-7700, 7500-7400 added huge 14.97 lacs OI with short covering seen at 8000 and above strike prices.
  • Nifty Open Interest is at 1,48,26,500 down by 6,07,550, with increase in price, probably huge long liquidation/short covering.
  • Bank Nifty Open Interest is at 16,58,525 up 1,36,375, with increase in price, probably huge long build-up.
  • FII’s sold huge 10.47 lacs Futures, which includes 12305 contracts long liquidation and 8638 contracts short build-up, with decrease in net OI by 3667 contracts (includes 26383 longs to 47326 shorts for the day) and the average price per contract comes to around 7901.50.
  • FII’s Index future open contract as on date is 183870 Longs to 77525 Shorts, net long 106345 down by 20943 contracts.
  • Initial and best support at 7800, with highest OI of 66.97 lacs and below that at 7700 with OI of 54.68 lacs.
  • Initial and good resistance at 8000, with huge OI of 49.62 lacs and above that at 8100 with huge OI of 52.96 lacs.
  • Day Range as per Option Table is 7796 - 7941 and as per VIX is 7824 - 7944 with 7860 as the Pivot.
Option Call for 14-10-2014
Buy Nifty 7900CE above 101 for targets of 118, 137 SL - 89
Buy Nifty 7900PE above 106 for targets of 129, 166 SL - 99

India VIX : 14.50 up by 0.17 points
Call OI : 38848250
Put OI : 40096900
PCR OI : 1.032
SMR : 14.05 (Neutral: The Bulls came back from the dead from below 7800 to close a few points below 7900 with 7800 now a solid support base, Range bound moves possible...)