Monday, April 7, 2014

Option Open Interest for 07-04-2014

Inference
Nifty opened flat around the previous day’s close, but saw selling pressure to the lows of the day around 6650. The responsive buyers took control from thereon to move the index back in the green but closed flat at 6695.05, minuscule gain of 0.70 points. The broader market was just positive, with 778 advances to 703 declines. Range for the time being at 6600-6800.
  • Call option 6800 added 1.72 lacs huge amount of OI with profit booking seen at 6900 and above strike prices.
  • Put option 6700-6400 added 15.41 lacs huge amount of OI with profit booking seen at 6300 and lower strike prices.
  • Nifty Open Interest is at 1,67,13,100 up by 3,63,250, with no change in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 14,46,475 up by 27,700, with decrease in price, most probably short build-up.
  • FII’s bought 1.41 lacs Futures, mostly long build-up, as their net OI increased by 7700 contracts (includes 45225 longs to 42403 shorts for the day) and the average price per contract comes to around 6700.07.
  • FII’s future open contract as on date is 364423.
  • PCR Open Interest (Volume) has jumped to 1.407 due to huge liquidation at 6900CE Level.
  • Initial support still at 6700, with huge OI of 48.66 lacs and below that at 6600 with huge OI of 54.20 lacs.
  • Initial resistance at 6800, with OI of 37.50 lacs and above that at 6900 with OI of 39.03 lacs.
  • Day Range as per Option Table is 6645 - 6741 and as per VIX is 6608 - 6782 with 6690 as the Pivot.
Option Call for 09-04-2014
Buy Nifty 6700CE above 94 for targets of 112, 136 SL - 88
Buy Nifty 6800PE above 110 for targets of 128, 150 SL - 104

India VIX : 24.95 up by 2.26 points
Call OI : 26946250
Put OI : 37913000
PCR OI : 1.407
SMR : 17.73 (Bullish: Another intra-day correction for the index, though it was unable to close above the psychological level of 6700, but saw Option Table PCR increasing to the highest point of the series, Range bound moves for the week possible...)