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...)

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