Wednesday, December 31, 2014

Option Open Interest for 31-12-2014

Inference
The index opened flat but saw a slow and steady rise on low volume to the highs of the day at 8291 but closed just below at 8282.70, gain of 34.45 points. The broader market was also positive, with 1004 advances to 503 declines. Range as per OI Table is 8000-8600.
  • Call option 8400-8900 added huge 8.09 lacs OI with short covering seen at 8100 and below strike prices.
  • Put option 8300-7900 added huge 11.40 lacs OI with small short covering seen at 8600 and above strike prices.
  • Nifty Open Interest is at 2,11,69,225 down by 1,48,125, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 19,63,750 up by 45,000, with increase in price, most probably long build-up.
  • FII’s bought 1.87 lacs Futures, which includes 9843 contracts long build-up and 2374 contracts short build-up, with increase in net OI by 12217 contracts (includes 33382 longs to 25913 shorts for the day) and the Average Price comes to 8577.94.
  • FII’s Index future open contract as on date is 602233 Longs to 76684 Shorts, net long 525549 up by 7469 contracts.
  • Initial support at 8300, with OI of 39.89 lacs and below that at 8200 with OI of 47.82 lacs.
  • Initial and best resistance still at 8400, with OI of 35.39 lacs and above that at 8600 with OI of 35.68 lacs.
  • Day Range as per Option Table is 8210 - 8343 and as per VIX is 8217 - 8348 with 8272 as the Pivot.
India VIX : 15.12 up by 0.26 points
Call OI : 28868075
Put OI : 37554950
PCR OI : 1.301
SMR : 11.62 (Bullish - Support shifting base from 8000 to 8200, Option Table in Green...)