Tuesday, October 21, 2014

Option Open Interest for 21-10-2014

Inference
The index opened up for the second day in a row above 7900 and went up to touch the highs of the day around 7937, where some profit booking was seen. The index got the required support near the previous days close and went up to close near the highs at 7927.75, gain of 48.35 points. The broader market was just positive, with 799 advances to 695 declines. The series range for the time being at 7800-8100.
  • Call option 8200 added 1.53 lacs OI with short covering seen at 7900 and below strike prices.
  • Put option 8000-7800 added huge 20.64 lacs OI with profit booking seen at 7700 and below strike prices.
  • Nifty Open Interest is at 1,67,90,900 up by 5,57,700, with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 19,59,050 up 1,30,350, with increase in price, probably huge long build-up.
  • FII’s bought huge 5.03 lacs Futures, which includes 19167 contracts long build-up and 9114 contracts short build-up, with increase in net OI by 28281 contracts (includes 53261 longs to 43208 shorts for the day) and the average price per contract comes to around 7994.94.
  • FII’s Index future open contract as on date is 240191 Longs to 87075 Shorts, net long 153116 up by 10053 contracts.
  • Initial support at 7900, with huge OI of 57.11 lacs and below that at 7800 with highest OI of 63.47 lacs.
  • Initial and very good resistance still at 8000, with huge OI of 59.14 lacs and above that at 8100 with huge OI of 63.05 lacs.
  • Day Range as per Option Table is 7842 - 7994 and as per VIX is 7872 - 7983 with 7913 as the Pivot.
Option Call for 22-10-2014
Buy Nifty 7900CE above 81 for targets of 98, 116 SL - 74
Buy Nifty 8000PE above 97 for targets of 113, 143 SL - 89

India VIX : 13.33 down by 0.86 points
Call OI : 39560600
Put OI : 41091900
PCR OI : 1.039
SMR : 12.83 (Bullish: The Bulls made sure that the up-move of the previous day was not a fluke with huge addition from 8000-7800 level; the Bears who had a successful month till now are in a spot of bother...)