Tuesday, October 14, 2014

Option Open Interest for 14-10-2014

Inference
The index opened strong around 7923 but saw huge profit booking to move to the lows of the day around 7825. Buying at lower levels saw the index back in green but was unable to sustain and closed lower at 7864.00, loss of 20.25 points. The broader market was also weak, with 653 advances to 890 declines. The series range is at 7800-8200.
  • Call option 8000-8100, 8300 added huge 4.10 lacs OI with profit booking seen at 8200, 8500 strike prices.
  • Put option 7600 added huge 4.91 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 1,47,18,800 down by 1,07,700, with decrease in price, probably huge long liquidation.
  • Bank Nifty Open Interest is at 16,21,900 down 36,625, with increase in price, probably short covering.
  • FII’s sold 3.87 lacs Futures, which includes 8705 contracts long liquidation and 971 contracts short covering, with decrease in net OI by 9676 contracts (includes 32689 longs to 40423 shorts for the day) and the average price per contract comes to around 7895.55.
  • FII’s Index future open contract as on date is 175165 Longs to 76554 Shorts, net long 98611 down by 7734 contracts.
  • Initial and best support still at 7800, with highest OI of 66.31 lacs and below that at 7700 with OI of 50.18 lacs.
  • Initial and super resistance at 8000, with huge OI of 51.25 lacs and above that at 8100 with huge OI of 53.52 lacs.
  • Day Range as per Option Table is 7800 - 7945 and as per VIX is 7804 - 7924 with 7872 as the Pivot.
Option Call for 16-10-2014
Buy Nifty 7900CE above 95 for targets of 116, 140 SL - 89
Buy Nifty 7900PE above 98 for targets of 125, 156 SL - 89

India VIX : 14.59 up by 0.09 points
Call OI : 39080150
Put OI : 39789200
PCR OI : 1.018
SMR : 14.33 (Neutral to Bearish: Participants booked profit and stayed light due to holiday and State Elections with the writers taking the day off, 8000-8200 level now is very strong resistance...)