Wednesday, November 26, 2014

Option Open Interest for 26-11-2014

Inference
The index opened flat to negative and stayed weak for the better part of the morning session only to the see the buyers back around noon to move the index back in green making a high of 8500 but closed just lower at 8475.75, gain of 12.65 points. The broader market was also strong, with 928 advances to 574 declines. Tentative Range for Expiry comes around 8400-8550.
  • Call option 8450 added 0.78 lacs OI with short covering seen at 8400 and below strike prices.
  • Put option 8500-8400 added huge 20.36 lacs OI with profit booking seen at 8300 and below strike prices.
  • Nifty Open Interest is at 94,16,575 down by 36,29,925, whereas Dec series added 44.96 lacs, with small increase in price, 100% roll-over with long build-up.
  • Bank Nifty Open Interest is at 13,81,625 down by 1,17,850, whereas Dec series added 1.94 lacs, with decrease in price, 100% roll-over with short build-up.
  • FII’s bought 1.26 lacs Futures, which includes 32639 contracts long build-up and 27610 contracts short build-up, with increase in net OI by 60249 contracts (includes 241587 longs to 236558 shorts for the day) and the Average Price comes to 8633.20.
  • FII’s Index future open contract as on date is 765983 Longs to 206047 Shorts, net long 559936 up by 5029 contracts.
  • Initial and best support at 8400, with highest OI of 68.09 lacs and below that at 8300 with huge OI of 57.61 lacs.
  • Initial and best resistance at 8500, with huge OI of 51.97 lacs and above that at 8600 with OI of 49.73 lacs.
  • Day Range as per Option Table is 8419 - 8527 and as per VIX is 8418 - 8533 with 8472 as the Pivot.
Option Call for 27-11-2014
Buy Nifty 8400CE above 84 for targets of 103, 132 SL - 79
Buy Nifty 8500PE above 38 for targets of 59, 85 SL - 33

India VIX : 12.99 down by 0.54 points
Call OI : 25152975
Put OI : 43048300
PCR OI : 1.711
SMR : 7.59 (Bullish: The Bears missed the follow-up opportunity and lost ground to the Bulls, who cemented the level of 8400, An Expiry below 8400 looks improbable though resistance still remains around the 8500 level...)