Wednesday, November 19, 2014

Option Open Interest for 19-11-2014

Inference
The index opened flat to positive but saw selling pressure from the morning itself to make lower lows with each passing hour. The dip buyers came back around 8360, but were unable to pull the index up by much and closed at 8382.30, loss of 43.60 points. The broader market was also weak, with 537 advances to 1019 declines. Tentative Range for the series is still around 8300-8500.
  • Call option 8500 added 1.26 lacs OI with profit booking seen at 8600 and above strike prices.
  • Put option 8100-8000 added huge 5.34 lacs OI with short covering seen at 8300 and above strike prices.
  • Nifty Open Interest is at 2,19,91,875 down by 6,24,050, with decrease in price, probably long liquidation.
  • Bank Nifty Open Interest is at 20,84,850 down by 1,62,375, with decrease in price, probably long liquidation.
  • FII’s bought 1.70 lacs Futures, which includes 1373 contracts long liquidation and 8157 contracts short covering, with decrease in net OI by 9530 contracts (includes 46482 longs to 39698 shorts for the day) and the Average Price comes to 8351.35.
  • FII’s Index future open contract as on date is 720023 Longs to 162146 Shorts, net long 557877 up by 6784 contracts.
  • Initial and best support at 8300, with highest OI of 60.33 lacs and below that at 8200 with OI of 51.31 lacs.
  • Initial resistance at 8400, with huge OI of 48.59 lacs and above that at 8500 with huge OI of 57.26 lacs.
  • Day Range as per Option Table is 8337 - 8451 and as per VIX is 8319 - 8445 with 8399 as the Pivot.
Option Call for 20-11-2014
Buy Nifty 8400CE above 66 for targets of 83, 109 SL - 59
Buy Nifty 8400PE above 50 for targets of 64, 79 SL - 44

India VIX : 14.35 up by 0.28 points
Call OI : 31180900
Put OI : 43544600
PCR OI : 1.397
SMR : 10.28 (Bullish: The index though closed in RED but the option table still stays ranged within the boundaries of 8300-8500 with 8400 acting as pivot, Sell the Rise and Buy the Dips...)