Sunday, November 23, 2014

Option Open Interest for 21-11-2014


Inference
The index opened flat to positive but saw huge buying interest within the first few minutes of trade to move above 8450 and stayed strong making a high of 8490 but closed just lower at 8477.35, huge gain of 75.45 points. The broader market though was weak, with 652 advances to 889 declines. Tentative Range for the Expiry week is around 8350-8600.
  • No Call option added OI whereas short covering was seen at 8500 and below strike prices.
  • Put option 8600-8400 added huge 33.31 lacs OI with profit booking seen at 8300 and below strike prices.
  • Nifty Open Interest is at 2,09,70,050 down by 4,48,725, whereas Dec series added 10.97 lacs, with increase in price, 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 21,30,100 up by 94,000, whereas Dec series added 1.99 lacs, with huge increase in price, huge long addition in both series.
  • FII’s bought 3.59 lacs Futures, which includes 15366 contracts long build-up and 990 contracts short build-up, with increase in net OI by 16356 contracts (includes 98733 longs to 84357 shorts for the day) and the Average Price comes to 8478.62.
  • FII’s Index future open contract as on date is 735191 Longs to 153950 Shorts, net long 581241 up by 14376 contracts.
  • Initial and super support at 8400, with huge OI of 63.84 lacs and below that at 8300 with highest OI of 66.72 lacs.
  • Initial and best resistance at 8500, with huge OI of 51.21 lacs.
  • Day Range as per Option Table is 8404 - 8517 and as per VIX is 8416 - 8539 with 8455 as the Pivot.
Option Call for 24-11-2014
Buy Nifty 8400CE above 104 for targets of 134, 164 SL - 89
Buy Nifty 8500PE above 60 for targets of 84, 118 SL - 53

India VIX : 13.85 down by 0.32 points
Call OI : 27651400
Put OI : 46690675
PCR OI : 1.689
SMR : 8.20 (Bullish: The index is gearing up an Expiry near the highs of the series with huge addition at 8500-8400PE levels with not much of resistance barring 8500; a close above 8500 can bring 8600 in a hurry...)