Wednesday, April 30, 2014

Option Open Interest for 30-04-2014

Inference
Nifty opened flat to positive and saw the index surge towards the highs of the days at 6780 within the first few hours of trade. The Sellers were waiting for the opportunity and saw the index to the lows of the day around 6656 but closed just above at 6696.40, small loss of 18.85 points. The broader market was also weak, with 404 advances to 1104 declines. Expected range till before Election result seems to be 6500-7000.
  • Call option 6700-7300 added 13.00 lacs huge amount of OI with small profit booking at 7400 strike price.
  • Put option 6800, 6600-6300 added 23.15 lacs huge amount of OI with small profit booking seen at 6700 strike price.
  • Nifty Open Interest is at 1,29,60,700 up by 53,050, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 14,89,250 down by 5,375, with decrease in price, most probably small long liquidation.
  • FII’s sold huge 3.97 lacs Futures, mostly short build-up as their net OI increased by 9862 contracts (includes 79960 longs to 87896 shorts for the day) and the average price per contract comes to around 6689.68.
  • FII’s future open contract as on date is 258958.
  • PCR Open Interest (Volume) has nudged up above 1 and now at 1.017.
  • Initial support still at 6700, with OI of just 16.07 lacs and below that at 6500 with OI of 37.09 lacs.
  • Initial resistance at 6800 with OI of 29.89 lacs and above that at 7000 with highest OI of 38.20 lacs.
  • Day Range as per Option Table is 6654 - 6762 and as per VIX is 6589 - 6804 with 6711 as the Pivot.
Option Call for 02-05-2014
Buy Nifty 6800CE above 207 for targets of 235, 277 SL - 199
Buy Nifty 6700PE above 215 for targets of 242, 270 SL - 205

India VIX : 30.59 down by 0.46 points
Call OI : 26397100
Put OI : 26846000
PCR OI : 1.017
SMR : 30.08 (Bearish: Bulls tried their best to come back but the highs were sold with ease to close below the psychological level of 6700, Bulls have their task cut out...)

Tuesday, April 29, 2014

Option Open Interest for 29-04-2014

Inference
Nifty opened flat to positive but saw huge profit booking within the first few minutes of trade to the lows around 6720. A pullback towards the previous day close was again sold off and the index closed near the lows at 6715.25, huge loss of 46.00 points. The broader market was also weak, with 607 advances to 877 declines. Expected range till before Election result seems to be 6500-7000.
  • Call option 6800-7400 added 10.67 lacs huge amount of OI with not much change in other strike prices.
  • Put option 6800-6400 added 7.77 lacs huge amount of OI with small short covering seen at 6900 strike price.
  • Nifty Open Interest is at 1,29,07,650 down by 8,65,700, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 14,94,625 up by 57,000, with decrease in price, most probably short build-up.
  • FII’s sold huge 6.23 lacs Futures, mostly long liquidation as their net OI decreased by 30877 contracts (includes 55073 longs to 67524 shorts for the day) and the average price per contract comes to around 6723.78.
  • FII’s future open contract as on date is 249096.
  • PCR Open Interest (Volume) is at the lowest point of the series at 0.987.
  • Initial support at 6700, with OI of just 17.74 lacs and below that at 6500 with OI of 31.16 lacs.
  • Initial resistance at 6800 with OI of 27.75 lacs and above that at 7000 with highest OI of 35.93 lacs.
  • Day Range as per Option Table is 6682 - 6779 and as per VIX is 6606 - 6824 with 6735 as the Pivot.
Option Call for 30-04-2014
Buy Nifty 7000CE above 147 for targets of 158, 181 SL - 139
Buy Nifty 6800PE above 205 for targets of 225, 245 SL - 199

India VIX : 31.05 down by 0.34 points
Call OI : 24967600
Put OI : 24633550
PCR OI : 0.987
SMR : 31.47 (Bearish: Three days of continuous down move, the longest after the breakout from 6350 level, the Bulls should come back tomorrow or else it will be Bears all the way...)

Monday, April 28, 2014

Option Open Interest for 28-04-2014

Inference
Nifty opened weak and stayed weak throughout the entire session of trade etching a low around 6750 but closed just up at 6761.25, still a good loss of 21.50 points. The broader market was flat, with 742 advances to 748 declines. Expected range till before Election result seems to be 6500-7000.
  • Call option 6800-7400 added 20.51 lacs huge amount of OI with not much change in other strike prices.
  • Put option 6800-6300 added 15.62 lacs huge amount of OI with small short covering seen at 6900 strike price.
  • Nifty Open Interest is at 1,37,73,350 up by 3,64,050, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 14,37,625 up by 1,40,650, with increase in price, most probably long build-up.
  • FII’s sold huge 3.50 lacs Futures, mostly short build-up as their net OI increased by 8441 contracts (includes 28141 longs to 35132 shorts for the day) and the average price per contract comes to around 6795.82.
  • FII’s future open contract as on date is 279973.
  • PCR Open Interest (Volume) has just gone below 1 and now at 0.992.
  • Initial support still at 6800, with OI of 24.72 lacs and below that at 6500 with OI of 29.48 lacs.
  • Initial resistance at 6900 with OI of 21.56 lacs and above that at 7000 with highest OI of 32.73 lacs.
  • Day Range as per Option Table is 6716 - 6813 and as per VIX is 6650 - 6872 with 6766 as the Pivot.
Option Call for 29-04-2014
Buy Nifty 7000CE above 164 for targets of 173, 184 SL - 159
Buy Nifty 6800PE above 233 for targets of 242, 255 SL - 227

India VIX : 31.39 up by 0.71 points
Call OI : 23287350
Put OI : 23098150
PCR OI : 0.992
SMR : 31.65 (Bearish: Second day in a row the index closed in Red, but Option Table addition is very light with highest OI at 7000CE level, Range bound moves till General Election Results are out...)

Sunday, April 27, 2014

Option Open Interest for 25-04-2014

Inference
Nifty opened flat to positive but saw huge profit booking and the index tanked below the psychological level of 6800 and closed near the lows at 6782.75, huge loss of 58.05 points. On a week on week basis the index was flat with a gain of just 3.35 points. The broader market was also weak, with 601 advances to 912 declines. Expected range till before Election result seems to be 6500-7000.
  • Call option 6800-7400 added 12.59 lacs huge amount of OI with small short covering seen at 6400 strike price.
  • Put option 6800-6300 added 15.87 lacs huge amount of OI.
  • Nifty Open Interest is at 1,34,09,300 down by 6,81,950, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 12,96,975 up by 12,750, with decrease in price, most probably short build-up.
  • FII’s sold huge 13.63 lacs Futures, mostly long liquidation as net OI decreased by 5750 contracts (includes 46742 longs to 74000 shorts for the day) and the average price per contract comes to around 6798.85.
  • FII’s future open contract as on date is 271532.
  • PCR Open Interest (Volume) has just nudged up to 1.039.
  • Initial support still at 6800, with OI of 20.01 lacs and below that at 6500 with OI of 26.28 lacs.
  • Initial resistance at 6900 with OI of 20.09 lacs and above that at 7000 with highest OI of 29.04 lacs.
  • Day Range as per Option Table is 6750 - 6852 and as per VIX is 6674 - 6892 with 6808 as the Pivot.
Option Call for 28-04-2014
Buy Nifty 7000CE above 177 for targets of 190, 214 SL - 169
Buy Nifty 6800PE above 230 for targets of 248, 266 SL - 222

India VIX : 30.68 down by 0.45 points
Call OI : 20522400
Put OI : 21314350
PCR OI : 1.039
SMR : 29.54 (Bearish to Neutral: New Series started with huge red candle due to profit booking from higher levels to close below the psychological level of 6800, Range moving forward comes around 6500-7000...)

Wednesday, April 23, 2014

Option Open Interest for 23-04-2014

Inference
Nifty opened flat to positive but moved up with each passing hour to touch the highs around 6860. Profit booking saw the index dip towards 6825 but short covering rally during the dying minutes saw the index close at 6840.80, gain of 25.45 points. The broader market was flat to positive, with 764 advances to 738 declines. Expected range for the next few days is 6700-7000.
  • Call option 6900-7400 added 18.99 lacs huge amount of OI with small short covering seen at 6700 strike price.
  • Put option 7000-6300 added 22.90 lacs huge amount of OI.
  • Nifty Open Interest is at 1,40,91,250 up by 45,17,050, whereas April series shed 18.85 lacs with increase in price, most probably 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 12,84,225 up by 4,11,925, whereas April series shed 5.59 lacs with increase in price, most probably roll-over with small short covering.
  • FII’s bought huge 24.98 lacs Futures, mostly long build-up (includes 178261 longs to 128299 shorts for the day) and the average price per contract comes to around 6869.70.
  • FII’s future open contract as on date is 277282.
  • PCR Open Interest (Volume) at the start of the series is at 1.023.
  • Initial support at 6800, with huge addition of 4.71 lacs for the day and below that at 6700 with OI of 11.14 lacs.
  • Initial resistance at 6900 with OI of 18.02 lacs and above that at 7000 with highest OI of 25.57 lacs.
  • Day Range as per Option Table is 6793 - 6888 and as per VIX is 6729 - 6952 with 6841 as the Pivot.
Option Call for 25-04-2014
Buy Nifty 7000CE above 208 for targets of 218, 232 SL - 200
Buy Nifty 6800PE above 218 for targets of 230, 254 SL - 210

India VIX : 31.13 down by 2.23 points
Call OI : 17983300
Put OI : 18388200
PCR OI : 1.023
SMR : 30.44 (Bullish with Caution: Nifty played true to itself and closed the expiry near the highs of the series, but moving forward the OI table for May is not as Bullish with huge resistance around 7000 level...)

Tuesday, April 22, 2014

Option Open Interest for 22-04-2014

Inference
Nifty opened positive but stayed within a narrow range 32 points for the entire session of trade and closed flat at 6815.35, miniscule loss of 2.30 points. The broader market was flat, with 754 advances to 745 declines. Expected max range for Expiry is 6780-6900.
  • Call option 6850-6900 added 17.32 lacs huge amount of OI with short covering seen at 6700 and lower strike prices.
  • Put option 6850-6800 added 21.54 lacs huge amount of OI with profit booking seen at 6700 and below strike prices.
  • Nifty Open Interest is at 1,23,65,000 down by 18,58,350, whereas May series added 27.69 lacs with no change in price, most probably 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 11,26,350 down by 2,42,025, whereas May series added 2.19 lacs with increase in price, most probably roll-over with small long liquidation.
  • FII’s bought huge 13.43 lacs Futures, mostly long build-up, as their net OI increased by 35483 contracts (includes 149605 longs to 122740 shorts for the day) and the average price per contract comes to around 6807.64.
  • FII’s future open contract as on date is 478559.
  • PCR Open Interest (Volume) is at 1.597.
  • Initial super support at 6800, with huge OI of 61.02 lacs and below that at 6700 with OI of 59.02 lacs.
  • Initial resistance at 6850 with huge addition for the day at 9.42 lacs and above that at 6900 with OI of 53.97 lacs.
  • Day Range as per Option Table is 6770 - 6871 and as per VIX is 6696 - 6934 with 6820 as the Pivot.

Preview of May Series Option Table, PCR at just 1.077 with very small addition

Option Call for 23-04-2014
Buy Nifty 6800CE above 43 for targets of 53, 66 SL - 38
Buy Nifty 6850PE above 29 for targets of 39, 50 SL - 25

India VIX : 33.36 down by 1.03 points
Call OI : 26245050
Put OI : 41915900
PCR OI : 1.597
SMR : 20.89 (Bullish: Nifty played as per the Option script and stayed within the narrow range of 6800-6850, based on VIX and Option Table Expiry could see huge volatility with range expansion...)

Monday, April 21, 2014

Option Open Interest for 21-04-2014

Inference
Nifty opened positive but stayed within a narrow range around 6800 for the better part of the day but saw breakout towards the highs of the day at 6825. The index closed just below the highs at 6817.65, gain of 38.25 points. The broader market was also strong, with 1029 advances to 457 declines. Best range till Expiry is 6750-6900.
  • Call option 6850-6900 added 10.88 lacs huge amount of OI with short covering seen at 6800 and lower strike prices.
  • Put option 6900-6600 added 34.89 lacs huge amount of OI with profit booking seen at 6500 and below strike prices.
  • Nifty Open Interest is at 1,42,23,350 down by 10,57,200, whereas May series added 20.85 lacs with increase in price, most probably 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 13,68,375 down by 69,825, whereas May series added 4.14 lacs with increase in price, most probably 100% roll-over with huge long build-up.
  • FII’s bought huge 5.54 lacs Futures, mostly long build-up, as their net OI increased by 41531 contracts (includes 120322 longs to 109241 shorts for the day) and the average price per contract comes to around 6805.52.
  • FII’s future open contract as on date is 443076.
  • PCR Open Interest (Volume) is around the highest point of the series at 1.562.
  • Initial and best support at 6700, with highest OI of 68.47 lacs and below that at 6600 with huge OI of 67.82 lacs.
  • Initial resistance at 6850 with huge addition for the day at 4.85 lacs and above that at 6900 with OI of 46.06 lacs.
  • Day Range as per Option Table is 6758 - 6867 and as per VIX is 6695 - 6940 with 6810 as the Pivot.
Option Call for 22-04-2014
Buy Nifty 6800CE above 53 for targets of 65, 78 SL - 48
Buy Nifty 6900PE above 74 for targets of 90, 109 SL - 69

India VIX : 34.39 up by 3.54 points
Call OI : 27047050
Put OI : 42244650
PCR OI : 1.562
SMR : 22.02 (Bullish: New High was done as expected with the Bulls making sure that the level of 6800 won’t be easy to break till expiry; Longs need to be cautious as VIX near 35...)

Sunday, April 20, 2014

Option Open Interest for 17-04-2014

Inference
Nifty opened positive but below 6700 level and staying flat for the first hour saw huge buying interest to move above 6700 and eventually closed strong around the highs of the day at 6779.40, huge gain of 104.10 points. On a week on week basis the index closed flat, just up by 3.10 points. The broader market was also strong, with 1037 advances to 458 declines. Best support till Expiry is around 6700 Level.
  • Call option did not add any OI, whereas huge short covering was seen at 6800 and lower strike prices.
  • Put option 6800-6600 added 46.78 lacs huge amount of OI with profit booking seen at 6500 and below strike prices.
  • Nifty Open Interest is at 1,52,80,550 down by 4,44,750, whereas May series added 19.76 lacs with increase in price, most probably 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 14,38,200 up by 30,825, whereas May series added 0.91 lacs with increase in price, most probably long build-up in both series.
  • FII’s bought huge 10.64 lacs Futures, mostly long build-up, as their net OI increased by 17777 contracts (includes 468268 longs to 453890 shorts for the day) and the average price per contract comes to around 6769.45.
  • FII’s future open contract as on date is 401545.
  • PCR Open Interest (Volume) has jumped up to 1.396.
  • Initial and best support now at 6700, with highest OI of 64.46 lacs and below that at 6600 with huge OI of 58.69 lacs.
  • Best resistance is still at 6800 with OI of 44.26 lacs and above that at 6900 with OI of 40.03 lacs.
  • Day Range as per Option Table is 6700 - 6814 and as per VIX is 6670 - 6889 with 6749 as the Pivot.
Option Call for 21-04-2014
Buy Nifty 6700CE above 110 for targets of 133, 159 SL - 88
Buy Nifty 6800PE above 59 for targets of 83, 129 SL - 50

India VIX : 30.85 down by 0.31 points
Call OI : 27824900
Put OI : 38834800
PCR OI : 1.396
SMR : 22.10 (Bullish: Bulls took the Bears by surprise and chalked out a 100 pointer and made them cover en-mass in all of the strikes from 7100-6600CE levels, a New High before expiry seems probable...)

Wednesday, April 16, 2014

Option Open Interest for 16-04-2014

Inference
Nifty opened flat and stayed in a narrow range till noon, but saw huge selling from thereon to see the index below 6700. Nifty ultimately closed near the lows at 6675.30, huge loss of 57.80 points. The broader market was very weak, with just 474 advances to 1023 declines. Range for the time being at 6600-6800.
  • Call option 6600-6900 added 20.77 lacs huge amount of OI with profit booking seen at 7000 and above strike prices.
  • Put option 6600-6500 added 1.73 lacs huge amount of OI with short covering seen at 6700 and above strike prices.
  • Nifty Open Interest is at 1,57,25,300 up by 3,70,150, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 14,07,375 down by 14,100, with small decrease in price, most probably long liquidation.
  • FII’s bought huge 2.78 lacs Futures, mostly long build-up, as their net OI increased by 27771 contracts (includes 64920 longs to 59361 shorts for the day) and the average price per contract comes to around 6659.25.
  • FII’s future open contract as on date is 383768.
  • PCR Open Interest (Volume) has dipped down to 1.126.
  • Initial and best support now at 6600, with huge OI of 52.58 lacs and below that at 6500 with huge OI of 44.63 lacs.
  • Best resistance is at 6800 with OI of 52.96 lacs and above that at 6900 with OI of 43.88 lacs.
  • Day Range as per Option Table is 6637 - 6743 and as per VIX is 6566 - 6784 with 6696 as the Pivot.
Option Call for 17-04-2014
Buy Nifty 6700CE above 61 for targets of 80, 109 SL - 55
Buy Nifty 6700PE above 48 for targets of 60, 73 SL - 40

India VIX : 31.16 down by 0.72 points
Call OI : 30906350
Put OI : 34797650
PCR OI : 1.126
SMR : 27.68 (Bearish: Bears broke the psychological level of 6700 and now need a follow-up action and they could be in the driver’s seat for the rest of the series...)

Tuesday, April 15, 2014

Option Open Interest for 15-04-2014

Inference
Nifty opened strong just below the psychological level of 6800 but saw huge unwinding to move towards the lows of the day around 6711. The index thereafter stayed in a narrow range and closed at 6733.10, huge loss of 43.20 points. The broader market was also weak, with 627 advances to 878 declines. Range for the time being at 6650-6850.
  • Call option 6700-7000 added 18.38 lacs huge amount of OI with profit booking seen at 7100 and above strike prices.
  • Put option 6400 added 1.78 lacs huge amount of OI with short covering seen at 6800 and above strike prices.
  • Nifty Open Interest is at 1,53,55,150 down by 7,64,900, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 14,21,475 down by 71,025, with huge decrease in price, most probably long liquidation.
  • FII’s sold huge 15.35 lacs Futures, mostly long liquidation, as their net OI decreased by 4452 contracts (includes 46359 longs to 77055 shorts for the day) and the average price per contract comes to around 6709.43.
  • FII’s future open contract as on date is 355997.
  • PCR Open Interest (Volume) has dipped down to 1.278.
  • Initial and best support at 6700, with highest OI of 52.43 lacs and below that at 6600 with huge OI of 51.12 lacs.
  • Best resistance is at 6800 with OI of 45.59 lacs and above that at 6900 with OI of 42.15 lacs.
  • Day Range as per Option Table is 6696 - 6799 and as per VIX is 6621 - 6845 with 6753 as the Pivot.
Option Call for 16-04-2014
Buy Nifty 6700CE above 105 for targets of 128, 156 SL - 99
Buy Nifty 6800PE above 78 for targets of 100, 123 SL - 72

India VIX : 31.88 up by 2.69 points
Call OI : 29451050
Put OI : 37643900
PCR OI : 1.278
SMR : 24.94 (Neutral: Huge profit booking of the last few days has brought the index near the best support level with the Bears sniffing a chance to nail it down below the psychological level of 6700...)

Thursday, April 10, 2014

Option Open Interest for 10-04-2014

Inference
Nifty opened just up above the psychological level of 6800 and stayed within a small range with positive bias for the better part of the day. Profit booking towards the end saw the index close flat at 6796.40, miniscule gain of 0.20 points. The broader market was positive, with 873 advances to 664 declines. Range for the time being at 6700-6900.
  • Call option 6900, 7100-7200 added 9.56 lacs huge amount of OI with short covering seen at 6700 and below strike prices.
  • Put option 6900-6800 added 19.21 lacs huge amount of OI with profit booking seen at 6700 and lower strike prices.
  • Nifty Open Interest is at 1,65,06,450 down by 9,28,600, with no change in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 15,47,625 down by 38,475, with not much change in price, most probably long liquidation.
  • FII’s sold huge 5.19 lacs Futures, mostly long liquidation, as their net OI decreased by 11493 contracts (includes 58331 longs to 68712 shorts for the day) and the average price per contract comes to around 6793.98.
  • FII’s future open contract as on date is 362733.
  • PCR Open Interest (Volume) is around the same point as yesterday at 1.509.
  • Initial support now up at 6800, with OI of 38.91 lacs and below that at 6700 with highest OI of 55.99 lacs.
  • Best resistance is at 6900 with OI of 39.04 lacs.
  • Day Range as per Option Table is 6748 - 6848 and as per VIX is 6694 - 6899 with 6770 as the Pivot.
Option Call for 11-04-2014
Buy Nifty 6800CE above 86 for targets of 98, 116 SL - 79
Buy Nifty 6800PE above 55 for targets of 64, 75 SL - 49

India VIX : 28.72 up by 1.81 points
Call OI : 26648100
Put OI : 40201000
PCR OI : 1.509
SMR : 19.04 (Bullish: A perfect consolidation day after the huge up-move with the 6800PE writers adding huge, Bulls though booked some longs but are still very much in control of the index...)

Wednesday, April 9, 2014

Option Open Interest for 09-04-2014

Inference
Nifty opened up around 6722 and stayed in a narrow range for the better part of the day, but saw huge buying interest around the last 2 hours of trade to see the index above 6800 for the first time. The index though closed a little below at 6796.20, huge gain of 101.15 points. The broader market was also positive, with 1129 advances to 388 declines. Range for the time being at 6700-6900.
  • Call option 7100-7300 added 3.31 lacs huge amount of OI with short covering seen at 6800 and below strike prices.
  • Put option 6900-6600 added 28.55 lacs huge amount of OI with profit booking seen at 6500 and lower strike prices.
  • Nifty Open Interest is at 1,74,35,050 up by 7,21,950, with increase change in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 15,86,100 up by 1,39,625, with huge increase in price, most probably long build-up.
  • FII’s bought 1.83 lacs Futures, mostly long build-up, as their net OI increased by 9803 contracts (includes 50276 longs to 46609 shorts for the day) and the average price per contract comes to around 6807.31.
  • FII’s future open contract as on date is 374226.
  • PCR Open Interest (Volume) is at the highest point of the series at 1.515.
  • Initial and best support now up at 6700, with highest OI of 59.53 lacs and below that at 6600 with huge OI of 54.64 lacs.
  • Not much resistance in either strike moving forward.
  • Day Range as per Option Table is 6725 - 6829 and as per VIX is 6700 - 6892 with 6770 as the Pivot.
Option Call for 10-04-2014
Buy Nifty 6800CE above 82 for targets of 100, 120 SL - 70
Buy Nifty 6800PE above 61 for targets of 78, 105 SL - 56

India VIX : 26.91 up by 1.96 points
Call OI : 25715700
Put OI : 38968600
PCR OI : 1.515
SMR : 17.76 (Bullish: After a few days of intra correction, the index added 100 points and went on to scale 6800; the CE writers have been butchered with not a single strike having OI above 40 lacs...)