Wednesday, November 12, 2014

Option Open Interest for 12-11-2014

Inference
The index opened positive and went up above the psychological level of 8400 to make all time high of 8415.05, but profit booking saw the index dip below 8400 to close at 8383.30, gain of 20.65 points. The broader market was flat, with 776 advances to 781 declines. Range for the series has narrowed down to 8200-8500.
  • Call option 8400-8700 added huge 12.62 lacs OI with short covering seen at 8300 and below strike prices.
  • Put option 8500-8100 added huge 24.30 lacs OI with profit booking seen at 8000 and below strike price.
  • Nifty Open Interest is at 2,37,73,350 up by 5,80,275, with increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 22,40,625 up by 1,46,900, with increase in price, probably huge long build-up.
  • FII’s bought 1.36 lacs Futures, which includes 16755 contracts long build-up and 11322 contracts short build-up, with increase in net OI by 28077 contracts (includes 62498 longs to 57065 shorts for the day) and the Average Price comes to 8379.93.
  • FII’s Index future open contract as on date is 747494 Longs to 149464 Shorts, net long 598030 up by 5433 contracts.
  • Initial and best support at 8300, with highest OI of 60.94 lacs and below that at 8200 with huge OI of 52.76 lacs.
  • Initial and best resistance at 8500, with OI of 55.84 lacs and above that at 8600 with OI of 45.95 lacs.
  • Day Range as per Option Table is 8319 - 8445 and as per VIX is 8320 - 8447 with 8390 as the Pivot.
Option Call for 13-11-2014
Buy Nifty 8400CE above 87 for targets of 98, 112 SL - 79
Buy Nifty 8400PE above 67 for targets of 77, 88 SL - 60

India VIX : 14.44 down by 0.36 points
Call OI : 29844100
Put OI : 40673275
PCR OI : 1.363
SMR : 10.60 (Bullish: The index saw a breakout of the range above 8400, but closed just below it, though huge addition was seen at 8400-8300 level, downside if any is limited for the time being...)