Monday, October 27, 2014

Option Open Interest for 27-10-2014

Inference
The index opened up at the highs of the day around 8064 but was sold off and closed near the lows of the day at 7991.70, loss of 22.85 points. The broader market was also weak, with 621 advances to 940 declines. The series range is still at 7900-8100.
  • Call option 8000-8100 added huge 9.38 lacs OI with profit booking seen at 8200 and above strike prices.
  • Put option 8000 added 0.57 lacs OI with profit booking seen at 7900 and below strike prices.
  • Nifty Open Interest is at 1,59,64,950 down by 9,94,500, whereas Nov series added 15.9 lacs with small decrease in price, probably 100% roll-over with huge short addition.
  • Bank Nifty Open Interest is at 17,55,825 down 1,45,350, whereas Nov series added 3.22 lacs with increase in price, probably 100% roll-over with huge long build-up.
  • FII’s bought huge 8.41 lacs Futures, which includes 23503 contracts long build-up and 6674 contracts short build-up, with increase in net OI by 30177 contracts (includes 80083 longs to 63254 shorts for the day) and the average price per contract comes to around 8053.78.
  • FII’s Index future open contract as on date is 288546 Longs to 99916 Shorts, net long 188630 up by 16829 contracts.
  • Initial and best support at 7900, with huge OI of 57.55 lacs and below that at 7800 with OI of 45.87 lacs.
  • Initial and best resistance at 8100, with highest OI of 70.51 lacs and above that at 8200 with huge OI of 55.93 lacs.
  • Day Range as per Option Table is 7943 - 8071 and as per VIX is 7935 - 8048 with 8014 as the Pivot.
Option Call for 28-10-2014
Buy Nifty 8000CE above 47 for targets of 61, 88 SL - 39
Buy Nifty 8000PE above 37 for targets of 44, 51 SL - 32

India VIX : 13.52 up by 0.66 points
Call OI : 36020050
Put OI : 38288100
PCR OI : 1.063
SMR : 12.72 (Bullish: A negative close after 5 sessions with index perfectly poised around 8000, can see rangebound movement within 7940-8060 for the next 2 days...)