Sunday, November 30, 2014

Option Open Interest for 28-11-2014

Inference
The index opened up above the psychological level of 8500 and saw huge buying interest to cross 8600 in the process but closed just below at 8588.25, huge gain of 94.05 points. The broader market though was weak, with 746 advances to 793 declines. Tentative Range at the start of series comes to 8300-8800.
  • Call option 8600-9000 added huge 39.75 lacs OI with short covering seen at 8500 and below strike prices.
  • Put option 8800-8300 added huge 45.87 lacs OI with profit booking seen at 8200 and below strike prices.
  • Nifty Open Interest is at 2,22,16,425 up by 12,75,575, with huge increase in price, probably huge long build-up.
  • Bank Nifty Open Interest is at 17,39,125 up by 1,76,900, with huge increase in price, probably huge long build-up.
  • FII’s bought huge 19.33 lacs Futures, which includes 65417 contracts long build-up and 11920 contracts short covering, with increase in net OI by 53497 contracts (includes 133831 longs to 56494 shorts for the day) and the Average Price comes to 8730.17.
  • FII’s Index future open contract as on date is 730220 Longs to 50288 Shorts, net long 679932 up by 77337 contracts.
  • Initial and best support at 8500, with OI of 42.07 lacs and below that at 8400 with OI of 37.31 lacs.
  • Initial resistance at 8600, with OI of 39.88 lacs and above that at 8700 with OI of 37.96 lacs.
  • Day Range as per Option Table is 8521 - 8636 and as per VIX is 8530 - 8646 with 8574 as the Pivot.
India VIX : 12.90 up by 0.16 points
Call OI : 38138700
Put OI : 34022675
PCR OI : 0.892
SMR : 14.46 (Bullish: Huge PE addition from 8600-8400 saw the index jump to all time high at 8617, with the Bulls in command though PCR is still below 1, 8500 is right now a good support moving forward...)