Tuesday, November 4, 2014

Option Open Interest for 03-11-2014

Inference
The index opened gap-up around 8350 but saw profit booking from the onset to move towards the lows of the day around 8300 only to close flat at 8324.15, gain of 1.95 points. The broader market was strong, with 1018 advances to 508 declines. Range developing for the series is 8000-8500.
  • Call option 8400-8800 added huge 21.32 lacs OI with short covering seen at 8300 and below strike prices.
  • Put option 8500-8000 added huge 20.12 lacs OI with profit booking seen at 7900 and below strike prices.
  • Nifty Open Interest is at 2,14,17,575 up by 6,31,975, with small increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 19,93,800 up by 32,725, with increase in price, probably long build-up.
  • FII’s bought 1.56 lacs Futures, which includes 13023 contracts long build-up and 6789 contracts short build-up, with increase in net OI by 19812 contracts (includes 64497 longs to 58263 shorts for the day) and the Average Price comes to 8326.39.
  • FII’s Index future open contract as on date is 652655 Longs to 89044 Shorts, net long 563611 up by 6234 contracts.
  • Initial support now at 8300, with huge OI addition of 6.45 lacs and below that at 8200 with huge OI of 38.93 lacs.
  • Initial resistance at 8400, with OI of 37.91 lacs and above that at 8500 with OI of 40.23 lacs.
  • Day Range as per Option Table is 8257 - 8390 and as per VIX is 8264 - 8384 with 8324 as the Pivot.
Option Call for 05-11-2014
Buy Nifty 8300CE above 143 for targets of 156, 176 SL - 135
Buy Nifty 8400PE above 119 for targets of 130, 145 SL - 114

India VIX : 13.74 up by 0.44 points
Call OI : 25675025
Put OI : 32606925
PCR OI : 1.270
SMR : 10.82 (Bullish: A perfect consolidation after the huge up-move of the last 2 days saw the PE writers trying to cement the base around 8200, best resistance still around 8500...)