Monday, November 10, 2014

Option Open Interest for 10-11-2014

Inference
The index opened flat but went up to touch the highs of the day around 8383 but Profit booking saw the index dip towards 8300 only to be bought and closed flat at 8344.25, small gain of 7.25 points. The broader market was weak, with 747 advances to 796 declines. Range developing for the series is 8000-8500.
  • Call option 8500-8600 added huge 13.18 lacs OI with short covering seen at 8300 and below strike prices.
  • Put option 8400-8100 added huge 16.21 lacs OI with profit booking seen at 8000 and below strike price.
  • Nifty Open Interest is at 2,30,72,675 up by 50,250, with small increase in price, probably long build-up.
  • Bank Nifty Open Interest is at 20,20,875 down by 80,475, with decrease in price, probably long liquidation.
  • FII’s sold 0.55 lacs Futures, which includes 4262 contracts long build-up and 6477 contracts short build-up, with increase in net OI by 10739 contracts (includes 42792 longs to 45007 shorts for the day) and the Average Price comes to 8344.84.
  • FII’s Index future open contract as on date is 729393 Longs to 121988 Shorts, net long 607405 down by 2215 contracts.
  • Initial support getting stronger at 8300, with huge OI of 43.20 lacs and below that at 8200 with huge OI of 48.99 lacs.
  • Initial resistance still at 8400, with OI of 43.98 lacs and above that at 8500 with OI of 50.19 lacs.
  • Day Range as per Option Table is 8283 - 8405 and as per VIX is 8283 - 8405 with 8344 as the Pivot.
Option Call for 11-11-2014
Buy Nifty 8400CE above 74 for targets of 91, 110 SL - 69
Buy Nifty 8300PE above 59 for targets of 69, 84 SL - 54

India VIX : 13.93 down by 0.18 points
Call OI : 28453025
Put OI : 37904675
PCR OI : 1.332
SMR : 10.46 (Bullish: The last 4 trading session has seen range bound moves within the 8300-8400 range with the bias firmly in favour of the Bulls, but higher level profit booking seems order of the day...)