Tuesday, November 25, 2014

Option Open Interest for 25-11-2014

Inference
The index opened flat but saw huge selling pressure from the onset to move lower with each passing hour and making a low at 8429. Small buying towards the dying minutes saw the index close a bit higher from the lows at 8463.10, huge loss of 67.05 points. The broader market was also very weak, with just 298 advances to 1263 declines. Tentative Range till Expiry comes around 8350-8550.
  • Call option 8450-8700 added huge 34.99 lacs OI with short covering seen at 8400 and below strike prices.
  • No Put option saw any OI addition with huge short covering seen at 8500 and above strike prices.
  • Nifty Open Interest is at 1,30,46,500 down by 58,59,675, whereas Dec series added 56.88 lacs, with decrease in price, mostly roll-over with small long liquidation.
  • Bank Nifty Open Interest is at 14,99,475 down by 4,02,425, whereas Dec series added 1.85 lacs, with decrease in price, small roll-over with huge long liquidation.
  • FII’s sold 6.43 lacs Futures, which includes 4765 contracts long liquidation and 20956 contracts short build-up, with increase in net OI by 16191 contracts (includes 342380 longs to 368101 shorts for the day) and the Average Price comes to 8571.27.
  • FII’s Index future open contract as on date is 733344 Longs to 178437 Shorts, net long 554907 down by 25721 contracts.
  • Initial support still at 8400, with huge OI of 57.74 lacs and below that at 8300 with highest OI of 61.30 lacs.
  • Initial and best resistance at 8500, with huge OI of 59.87 lacs and above that at 8600 with OI of 55.11 lacs.
  • Day Range as per Option Table is 8417 - 8529 and as per VIX is 8403 - 8523 with 8476 as the Pivot.
Option Call for 26-11-2014
Buy Nifty 8400CE above 89 for targets of 123, 172 SL - 80
Buy Nifty 8500PE above 48 for targets of 72, 96 SL - 43

India VIX : 13.53 up by 0.51 points
Call OI : 28671325
Put OI : 42724750
PCR OI : 1.490
SMR : 9.08 (Bullish: The index saw huge profit booking just 2 days away from expiry to close below 8500, with the 8500CE writers coming back, a follow up action will ensure an expiry below it...)