Tuesday, October 28, 2014

Option Open Interest for 28-10-2014

Inference
The index opened up above 8000 and stayed positive for the entire session of trade and closed nearer to the top at 8027.60, gain of 35.90 points. The broader market was also positive, with 825 advances to 686 declines. The series range is still at 8000-8100.
  • Call option 8400 added huge 5.42 lacs OI with short covering seen at 8000 and below strike prices.
  • Put option 8050-8000 added huge 12.47 lacs OI with profit booking seen at 7900 and below strike prices.
  • Nifty Open Interest is at 1,36,45,750 down by 23,19,200, whereas Nov series added 56.82 lacs with increase in price, probably 100% roll-over with huge long addition.
  • Bank Nifty Open Interest is at 16,18,125 down 1,37,700, whereas Nov series added 3.71 lacs with increase in price, probably 100% roll-over with huge long build-up.
  • FII’s bought huge 7.13 lacs Futures, which includes 41593 contracts long build-up and 27338 contracts short build-up, with increase in net OI by 68931 contracts (includes 172535 longs to 158280 shorts for the day) and the average price per contract comes to around 8109.59.
  • FII’s Index future open contract as on date is 330139 Longs to 127254 Shorts, net long 202885 up by 14255 contracts.
  • Initial and best support at 8000, with huge OI of 56.28 lacs and below that at 7900 with OI of 49.59 lacs.
  • Initial and best resistance at 8100, with highest OI of 64.90 lacs and above that at 8200 with huge OI of 53.97 lacs.
  • Day Range as per Option Table is 7962 - 8085 and as per VIX is 7972 - 8084 with 8020 as the Pivot.
Option Call for 29-10-2014
Buy Nifty 8000CE above 55 for targets of 66, 78 SL - 49
Buy Nifty 8050PE above 44 for targets of 56, 78 SL - 39

India VIX : 13.32 down by 0.20 points
Call OI : 33338200
Put OI : 37539900
PCR OI : 1.126
SMR : 11.83 (Bullish: The Series range has boiled down to 100 points with range at 8000-8100, another range bound day maybe in the offering with a slight positive bias...)