Sunday, October 19, 2014

Option Open Interest for 17-10-2014

Inference
The index opened weak around 7734 and after staying flat for the first 2 hours saw a dip towards the lows of the day at 7724. The responsive buyer took control from thereon to move the index back in green and to the highs of the day around 7819 but closed just below at 7779.70, gain of 31.50 points. The broader market though was weak, with 711 advances to 826 declines. The series range for the time being still at 7700-8000.
  • Call option 7900-8100 added huge 23.16 lacs OI with profit booking seen at 8200 and above strike prices.
  • Put option 7700-7300 added huge 14.34 lacs OI with short covering seen at 7900 and above strike prices.
  • Nifty Open Interest is at 1,56,46,900 up by 12,05,700, with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 17,56,675 up 1,49,275, with increase in price, probably huge long build-up.
  • FII’s bought huge 13.16 lacs Futures, which includes 27480 contracts long build-up and 1163 contracts short build-up, with increase in net OI by 28643 contracts (includes 76740 longs to 50423 shorts for the day) and the average price per contract comes to around 7844.72.
  • FII’s Index future open contract as on date is 180547 Longs to 74046 Shorts, net long 106501 up by 26317 contracts.
  • Initial and best support still at 7700, with huge OI of 57.84 lacs and below that at 7600 with OI of 53.44 lacs.
  • Initial resistance at 7900, with huge OI of 52.07 lacs and above that at 8000 with highest OI of 68.12 lacs.
  • Day Range as per Option Table is 7700 - 7859 and as per VIX is 7713 - 7846 with 7774 as the Pivot.
Option Call for 20-10-2014
Buy Nifty 7800CE above 98 for targets of 120, 142 SL - 91
Buy Nifty 7800PE above 91 for targets of 116, 149 SL - 85

India VIX : 16.40 down by 0.03 points
Call OI : 44785450
Put OI : 41683550
PCR OI : 0.931
SMR : 17.62 (Neutral: The Bulls are back in the race again but need follow up action as PCR is still below 1 and the resistance around 7900-8000 is too huge for the time being, but a good State Election outcome can see huge gap-up on Monday...)