Thursday, November 13, 2014

Option Open Interest for 13-11-2014

Inference
The index opened strong above 8400 but profit booking from the onset saw the index down to lows of the day around 8320. Some lower level buying saw the index close just below at 8357.85, small loss of 25.45 points. The broader market was also weak, with 590 advances to 956 declines. Tentative Range for the series is at 8200-8500.
  • Call option 8300-8600 added huge 8.53 lacs OI with profit booking seen at 8700 and above strike prices.
  • Put option 8100 added 0.85 lacs OI with short covering seen at 8400 and above strike prices.
  • Nifty Open Interest is at 2,31,00,100 down by 6,73,250, with decrease in price, probably huge long liquidation.
  • Bank Nifty Open Interest is at 20,46,400 down by 1,94,225, with decrease in price, probably huge long liquidation.
  • FII’s sold 3.38 lacs Futures, which includes 11689 contracts long liquidation and 1828 contracts short build-up, with decrease in net OI by 9861 contracts (includes 54728 longs to 68245 shorts for the day) and the Average Price comes to 8299.33.
  • FII’s Index future open contract as on date is 735805 Longs to 151292 Shorts, net long 584513 down by 13517 contracts.
  • Initial and best support still at 8300, with huge OI of 53.40 lacs and below that at 8200 with OI of 52.09 lacs.
  • Initial resistance at 8400, with huge OI of 54.25 lacs and above that at 8500 with highest OI of 58.45 lacs.
  • Day Range as per Option Table is 8303 - 8419 and as per VIX is 8297 - 8418 with 8362 as the Pivot.
Option Call for 14-11-2014
Buy Nifty 8400CE above 66 for targets of 84, 107 SL - 59
Buy Nifty 8400PE above 83 for targets of 101, 120 SL - 78

India VIX : 13.80 down by 0.64 points
Call OI : 30946050
Put OI : 38620300
PCR OI : 1.248
SMR : 11.06 (Bullish to Neutral: Bears in a single day have changed the complexion of the OI Table, but a follow-up action tomorrow can seal it or else the Bulls may make a comeback, huge resistance at 8400-8500 level...)