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...)