Thursday, November 20, 2014

Option Open Interest for 20-11-2014

Inference
The index opened positive but saw profit booking to move to the lows of the day around 8353, from where the responsive buyers took control and moved the index back in green to close firm at 8401.90, small gain of 19.60 points. The broader market though was weak, with 564 advances to 970 declines. Tentative Range for the series is still around 8300-8500.
  • Call option 8500 added 2.93 lacs OI with profit booking seen at 8600 and above strike prices.
  • Put option 8400-8200 added huge 15.89 lacs OI with profit booking seen at 8100 and below strike prices.
  • Nifty Open Interest is at 2,14,18,775 down by 5,73,100, whereas Dec series added 4.24 lacs, with small increase in price, mostly roll-over with small short covering.
  • Bank Nifty Open Interest is at 20,36,100 down by 48,750, whereas Dec series added 0.84 lacs, with increase in price, 100% roll-over with small long addition.
  • FII’s bought 2.25 lacs Futures, which includes 198 contracts long liquidation and 9186 contracts short covering, with decrease in net OI by 9186 contracts (includes 55942 longs to 46954 shorts for the day) and the Average Price comes to 8343.32.
  • FII’s Index future open contract as on date is 719825 Longs to 152960 Shorts, net long 566865 up by 8988 contracts.
  • Initial and best support at 8300, with highest OI of 68.50 lacs and below that at 8200 with OI of 53.51 lacs.
  • Initial and best resistance at 8500, with huge OI of 60.18 lacs and above that at 8600 with OI of 40.83 lacs.
  • Day Range as per Option Table is 8335 - 8449 and as per VIX is 8340 - 8464 with 8389 as the Pivot.
Option Call for 21-11-2014
Buy Nifty 8400CE above 59 for targets of 69, 80 SL - 53
Buy Nifty 8400PE above 48 for targets of 59, 78 SL - 43

India VIX : 14.17 down by 0.18 points
Call OI : 30295850
Put OI : 44875175
PCR OI : 1.481
SMR : 9.57 (Bullish: The index has formed a small range of 8350-8450 within the bigger option range of 8300-8500, though the bias still remain Bullish with PCR now at 1.48, but stay cautious at higher levels...)