Tuesday, November 18, 2014

Option Open Interest for 18-11-2014

Inference
The index opened flat to positive and went on to make the high of the day within the first hour of trade. Profit booking at higher level saw the index to the lows at 8407 but closed flat at 8425.90, a small loss of 4.85 points. The broader market was positive, with 845 advances to 714 declines. Tentative Range for the series is still around 8300-8500.
  • Call option 8600-8800 added huge 4.29 lacs OI with short covering seen at 8400 and below strike prices.
  • Put option 8500-8400 added huge 10.42 lacs OI with profit booking seen at 8200 and below strike prices.
  • Nifty Open Interest is at 2,26,15,925 down by 1,94,475, with small decrease in price, probably long liquidation.
  • Bank Nifty Open Interest is at 22,47,225 up by 1,09,475, with increase in price, probably long build-up.
  • FII’s sold 1.90 lacs Futures, which includes 3250 contracts long build-up and 10867 contracts short build-up, with increase in net OI by 14117 contracts (includes 34377 longs to 41994 shorts for the day) and the Average Price comes to 8426.88.
  • FII’s Index future open contract as on date is 721396 Longs to 170303 Shorts, net long 551093 down by 7617 contracts.
  • Initial support now at 8400, with huge OI of 49.71 lacs and below that at 8300 with highest OI of 62.81 lacs.
  • Initial and best resistance still at 8500, with huge OI of 56.00 lacs and above that at 8600 with OI of 49.39 lacs.
  • Day Range as per Option Table is 8371 - 8483 and as per VIX is 8364 - 8488 with 8429 as the Pivot.
Option Call for 19-11-2014
Buy Nifty 8400CE above 87 for targets of 98, 110 SL - 80
Buy Nifty 8500PE above 83 for targets of 92, 104 SL - 79

India VIX : 14.07 down by 0.34 points
Call OI : 31619400
Put OI : 44525075
PCR OI : 1.408
SMR : 9.99 (Bullish: The Index saw consolidation after 2 days of up-move and stayed in a narrow range to close flat, but added huge at 8400PE level, which now should act as good support, more upside seems a possibility...)