Sunday, October 26, 2014

Option Open Interest for 23-10-2014

Inference
The index opened up by around 32 points on Mahurat Trading day and then stayed in a narrow range of 23 points and closed at 8014.55, gain of 18.65 points. The broader market was just positive, with 1193 advances to 255 declines. The series range is still at 7900-8100.
  • No Call option added OI with short covering seen at 7900 and below strike prices.
  • Put option 8100-8000 added huge 5.01 lacs OI with profit booking seen at 7800 and below strike prices.
  • Nifty Open Interest is at 1,69,59,450 down by 1,47,250, with increase in price, probably huge short covering.
  • Bank Nifty Open Interest is at 19,01,175 up 28,600, with small increase in price, probably long build-up.
  • FII’s bought 100 Futures, which includes 219 contracts long build-up and 217 contracts short build-up, with increase in net OI by 2 contracts (includes 413 longs to 411 shorts for the day) and the average price per contract comes to around 8062.42.
  • FII’s Index future open contract as on date is 265043 Longs to 93242 Shorts, net long 171801 up by 2 contracts.
  • Initial support at 8000, with huge OI of 49.78 lacs and below that at 7900 with huge OI of 59.90 lacs.
  • Initial and best resistance at 8100, with highest OI of 63.79 lacs and above that at 8200 with huge OI of 61.46 lacs.
  • Day Range as per Option Table is 7951 - 8085 and as per VIX is 7961 - 8068 with 8018 as the Pivot.
Option Call for 27-10-2014
Buy Nifty 8000CE above 56 for targets of 61, 68 SL - 49
Buy Nifty 8100PE above 90 for targets of 97, 108 SL - 85

India VIX : 12.86 down by 0.17 points
Call OI : 35769350
Put OI : 39000550
PCR OI : 1.090
SMR : 11.79 (Bullish: Mahurat session saw a positive close with PE writers making good the hour of trade, CE writers still holding on to 8100-8200 with ease, a gap-up can see them in trouble...)