Thursday, May 29, 2014

Option Open Interest for 29-05-2014

Inference
The index opened flat to negative and stayed weak with huge liquidation seen from the morning. The index closed weak around the lows of the day at 7235.65, huge loss of 94.00 points. It was the biggest loss for a day in more than 3 months. The broader market was also weak, with 670 advances to 905 declines. Expected range for the series right now seems to be 6800-7500.
  • Call option 7200-7800 added 44.14 lacs huge amount of OI with small addition also seen at lower levels.
  • Put option 7300-6500 added 35.77 lacs huge amount of OI with not much change in other strike prices.
  • Nifty Open Interest is at 1,53,91,950 up by 40,33,250, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 25,93,375 up by 8,90,625, with decrease in price, most probably short build-up.
  • FII’s sold 1.53 lacs Futures, mostly long liquidation as their net OI decreased by 337177 contracts (includes 186078 longs to 189134 shorts for the day) and the average price per contract comes to around 7319.73.
  • FII’s future open contract as on date is 244389.
  • PCR Open Interest (Volume) is at 0.843.
  • Initial support at 7200, with OI of 18.80 and below that at 7000 with OI of 30.62 lacs.
  • Initial resistance at 7300 with OI of 26.11 lacs and above that at 7500 with highest OI of 42.43 lacs.
  • Day Range as per Option Table is 7173 - 7338 and as per VIX is 7172 - 7299 with 7262 as the Pivot.
Option Call for 30-05-2014
Buy Nifty 7300CE above 124 for targets of 141, 173 SL - 119
Buy Nifty 7200PE above 96 for targets of 108, 121 SL - 87

India VIX : 16.69 down by 0.87 points
Call OI : 26816050
Put OI : 22613400
PCR OI : 0.843
SMR : 19.79 (Bearish: The Bulls were in for a shock as Expiry happened near the lows of the day, and Option Table for June Series also looks weak, Need caution at higher levels...)

Wednesday, May 28, 2014

Option Open Interest for 28-05-2014

Inference
The index opened flat and stayed within a narrow range of 42 points for the entire session of trade and closed just positive at 7329.65, a small gain of 11.65 points. The broader market was positive, with 1045 advances to 525 declines. Expected range on Expiry seems to be 7200-7400.
  • Call option 7300 added 3.98 lacs huge amount of OI with profit booking seen at 7500 and above strike prices.
  • Put option 7300-7200 added 9.98 lacs huge amount of OI with short covering seen at 7400 and above strike prices.
  • Nifty Open Interest is at 1,45,98,350 down by 20,37,300, whereas June series added 24.93 lacs with decrease in price, 100% rollover with some more long addition.
  • Bank Nifty Open Interest is at 27,13,450 down by 20,775, whereas June series added 6.83 lacs with increase in price, 100% rollover with huge long build-up in next series.
  • FII’s bought huge 9.66 lacs Futures, mostly long build-up as their net OI increased by 50071 contracts (includes 179002 longs to 159685 shorts for the day) and the average price per contract comes to around 7384.17.
  • FII’s future open contract as on date is 581566.
  • PCR Open Interest (Volume) is at 0.934.
  • Initial support at 7300, with OI of 36.80 and below that at 7200 with OI of 34.39 lacs.
  • Initial and best resistance at 7400 with OI of 60.12 lacs and above that at 7500 with highest OI of 61.01 lacs.
  • Day Range as per Option Table is 7242 - 7412 and as per VIX is 7262 - 7397 with 7326 as the Pivot.
Option Table for June Series

Option Call for 29-05-2014
Buy Nifty 7300CE above 48 for targets of 59, 76 SL - 43
Buy Nifty 7400PE above 81 for targets of 95, 117 SL - 76

India VIX : 17.56 down by 1.54 points
Call OI : 49864050
Put OI : 46592750
PCR OI : 0.934
SMR : 18.79 (Bullish with Caution: The writers are evenly poised around 7300 level and Nifty for a change may be subdued and see Expiry around this level...)

Tuesday, May 27, 2014

Option Open Interest for 27-05-2014

Inference
The index opened flat but saw selling pressure with the index making lows of the day around 7275. Intermittent buying saw the index close above the psychological level of 7300 at 7318.00, still a huge loss of 41.05 points. The broader market was also negative, with 593 advances to 977 declines. Expected range till Expiry seems to be 7000-7500.
  • Call option 7300-7500 added 19.61 lacs huge amount of OI with profit booking seen at 7600 and above strike prices.
  • Put option 7300-7200 added 11.14 lacs huge amount of OI with short covering seen at 7400 and above strike prices.
  • Nifty Open Interest is at 1,66,35,650 down by 25,11,250, whereas June series added 20.40 lacs with decrease in price, mostly rollover with some long liquidation.
  • Bank Nifty Open Interest is at 27,34,225 up by 45,200, whereas June series added 6.96 lacs with decrease in price, mostly short build-up in both series.
  • FII’s bought just 0.09 lacs Futures, mostly long build-up as their net OI increased by 4133 contracts (includes 145352 longs to 145165 shorts for the day) and the average price per contract comes to around 7361.83.
  • FII’s future open contract as on date is 531495.
  • PCR Open Interest (Volume) is at 0.875.
  • Initial support at 7200, with OI of 31.69 and below that at 7000 with OI of 47.53 lacs.
  • Initial and good resistance at 7400 with OI of 56.15 lacs and above that at 7500 with highest OI of 67.69 lacs.
  • Nifty Spot Day Range as per Option Table is 7226 - 7412 and as per VIX is 7245 - 7391 with 7322 as the Pivot.
Option Call for 28-05-2014
Buy Nifty 7300CE above 61 for targets of 82, 114 SL - 55
Buy Nifty 7400PE above 101 for targets of 128, 160 SL - 94

India VIX : 19.10 down by 0.74 points
Call OI : 52634850
Put OI : 46038900
PCR OI : 0.875
SMR : 21.84 (Neutral: The CE writers for the second day in a row made sure that upside for the series is being capped at 7500 with chances of Expiry below 7300 becoming more of a reality...)

Monday, May 26, 2014

Option Open Interest for 26-05-2014

Inference
The index opened positive above 7400 and saw buying interest from the morning to move to the highs of the day at 7504, but huge profit booking saw the index nosedive more than 234 points to the lows of the day at 7269. Some lower level short covering saw the index close at 7359.05, a small loss of 8.05 points. The broader market was very negative, with 534 advances to 1056 declines. Expected range till Expiry seems to be 7000-7500.
  • Call option 7300, 7500-7700 added 21.25 lacs huge amount of OI with short covering seen at 7200 and lower strike prices.
  • Put option 7500-7400 added 7.90 lacs huge amount of OI with profit booking seen at 7300 and lower strike prices.
  • Nifty Open Interest is at 1,91,46,900 down by 18,79,100, whereas June series added 16.12 lacs with small decrease in price, mostly rollover with some long liquidation.
  • Bank Nifty Open Interest is at 26,89,025 down by 2,22,425, whereas June series added 1.22 lacs with decrease in price, mostly rollover with long liquidation.
  • FII’s bought 4.30 lacs Futures, mostly short covering as their net OI decreased by 4639 contracts (includes 165605 longs to 156996 shorts for the day) and the average price per contract comes to around 7394.97.
  • FII’s future open contract as on date is 527362.
  • PCR Open Interest (Volume) has dipped to 0.879.
  • Initial support still at 7300, with OI of just 23.56 and below that at 7100 with OI of 36.81 lacs.
  • Initial resistance still at 7400 with OI of 50.20 lacs and above that at 7500 with highest OI of 64.01 lacs.
  • Day Range as per Option Table is 7275 - 7467 and as per VIX is 7283 - 7435 with 7377 as the Pivot.
Option Call for 27-05-2014
Buy Nifty 7300CE above 123 for targets of 154, 184 SL - 118
Buy Nifty 7400PE above 90 for targets of 115, 160 SL - 84

India VIX : 19.84 up by 2.13 points
Call OI : 52749750
Put OI : 46381750
PCR OI : 0.879
SMR : 22.56 (Bullish with Caution: Highly volatile day, with profit booking from the top taking the shine out of Nifty and the CE writers making sure that Expiry would most probably be below 7500...)

Sunday, May 25, 2014

Option Open Interest for 23-05-2014

Inference
The index opened positive and saw buying interest from the morning, with every dip being bought. The index went on to close near the highs of the day at 7367.10, a huge gain of 90.70 points. On a week on week basis the index gained 164.10 points or approx 2.28%. The broader market was highly positive, with 1138 advances to 447 declines. Expected range till Expiry seems to be 7000-7500.
  • Call option 7600 added 6.70 lacs huge amount of OI with short covering seen at 7300 and lower strike prices.
  • Put option 7400-7300 added 17.82 lacs huge amount of OI with profit booking seen at 7100 and lower strike prices.
  • Nifty Open Interest is at 2,10,26,000 down by 1,23,500, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 29,11,450 up by 22,075, with increase in price, most probably long build-up.
  • FII’s sold huge 6.01 lacs Futures, mostly short build-up as their net OI increased by 20401 contracts (includes 88570 longs to 100599 shorts for the day) and the average price per contract comes to around 7421.29.
  • FII’s future open contract as on date is 532001.
  • PCR Open Interest (Volume) is up again and now at 0.912.
  • Initial support now up at 7300, with OI addition of 8.40 lacs for the day and below that at 7200 with OI of 30.27 lacs.
  • Initial and superb resistance at 7400 with OI of 56.87 lacs and above that at 7500 with highest OI of 57.53 lacs.
  • Day Range as per Option Table is 7267 - 7435 and as per VIX is 7299 - 7435 with 7347 as the Pivot.
Option Call for 26-05-2014
Buy Nifty 7300CE above 109 for targets of 134, 160 SL - 98
Buy Nifty 7400PE above 84 for targets of 104, 138 SL - 79

India VIX : 17.71 down by 0.13 points
Call OI : 52288400
Put OI : 47691450
PCR OI : 0.912
SMR : 19.42 (Bullish with Caution: After 3 days of consolidation the index moved up and closed above the psychological level of 7300 and now based on OI Table can remain in the range of 7250-7450 till expiry...)

Thursday, May 22, 2014

Option Open Interest for 22-05-2014

Inference
The index opened positive and went on to touch the highs of the day around 7320. Profit booking during the second half saw the index moving down towards the lows of the day around 7260, but closed just up at 7276.40, small gain of 23.50 points. The broader market was highly positive, with 1197 advances to 373 declines. Expected range till Expiry seems to be 7000-7500.
  • Call option 7400 added 1.90 lacs huge amount of OI with short covering seen at 7300 and lower strike prices.
  • Put option 7100 added 5.67 lacs huge amount of OI with profit booking seen at 7000 and lower strike prices.
  • Nifty Open Interest is at 2,11,49,500 down by 9,79,700, with small increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 28,89,375 up by 58,350, with increase in price, most probably long build-up.
  • FII’s bought huge 5.35 lacs Futures, mostly long build-up as their net OI increased by 14193 contracts (includes 70637 longs to 59930 shorts for the day) and the average price per contract comes to around 7329.46.
  • FII’s future open contract as on date is 511600.
  • PCR Open Interest (Volume) is marginally up at 0.845.
  • Initial support at 7200, with OI of 30.77 lacs and below that at 7000 with huge OI of 50.82 lacs.
  • Initial resistance still at 7300 with OI of 38.52 lacs and above that at 7500 with highest OI of 59.58 lacs.
  • Day Range as per Option Table is 7195 - 7367 and as per VIX is 7208 - 7344 with 7285 as the Pivot.
Option Call for 23-05-2014

India VIX : 17.84 down by 0.07 points
Call OI : 55259200
Put OI : 46706000
PCR OI : 0.845
SMR : 21.11 (Bullish with Caution: The index has consolidated in the range of 140 points for the last 4 days, with the bias staying positive, Bears will be back only on a close below 7203...)

Wednesday, May 21, 2014

Option Open Interest for 21-05-2014

Inference
The index opened flat, but profit booking from higher levels saw the index dip towards the lows at 7207. Buying support at lower levels saw the index bounce back towards the previous days close but closed in the red at 7252.90, small loss of 22.60 points. The broader market though was highly positive, with 1113 advances to 452 declines. Expected range till Expiry seems to be 7000-7500.
  • Call option 7100-7500 added 11.39 lacs huge amount of OI with profit booking seen at 7600 and above strike prices.
  • Put option 7300-7000 added 19.11 lacs huge amount of OI with profit booking seen at 6900 and lower strike prices.
  • Nifty Open Interest is at 2,21,29,200 up by 5,03,700, with small decrease in price, most probably long/short build-up.
  • Bank Nifty Open Interest is at 28,31,025 down by 42,675, with decrease in price, most probably long liquidation.
  • FII’s bought huge 3.59 lacs Futures, mostly long build-up as their net OI increased by 25502 contracts (includes 79231 longs to 72045 shorts for the day) and the average price per contract comes to around 7310.84.
  • FII’s future open contract as on date is 497407.
  • PCR Open Interest (Volume) is at 0.842.
  • Initial support at 7200, with huge addition of 8.84 lacs for the day and below that at 7000 with huge OI of 52.02 lacs.
  • Initial resistance still at 7300 with OI of 40.36 lacs and above that at 7500 with highest OI of 60.04 lacs.
  • Day Range as per Option Table is 7157 - 7341 and as per VIX is 7185 - 7321 with 7249 as the Pivot.
Option Call for 22-05-2014
Buy Nifty 7200CE above 119 for targets of 145, 172 SL - 111
Buy Nifty 7300PE above 85 for targets of 103, 128 SL - 79

India VIX : 17.91 down by 1.32 points
Call OI : 56679900
Put OI : 47737350
PCR OI : 0.842
SMR : 21.27 (Bullish with Caution: Profit booking seen from the last few days and the index closed in the red after 9 days of positive close, Support getting stronger around 7200 but huge resistance around 7400-7500 level...)

Tuesday, May 20, 2014

Option Open Interest for 20-05-2014

Inference
The index opened up for the third day in a row and moved up to touch the high at 7320, though profit booking took the shine out of the index and it closed flat at 7275.50, small gain of 11.95 points. The broader market though was highly positive, with 1226 advances to 340 declines. Expected range till Expiry seems to be 7000-7500.
  • Call option 7400-7600 added 5.29 lacs huge amount of OI with short covering seen at 7200 and lower strike prices.
  • Put option 7300-7100 added 15.60 lacs huge amount of OI with profit booking seen at 6700 and lower strike prices.
  • Nifty Open Interest is at 2,16,25,500 down by 2,83,900, with small increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 28,73,700 up by 1,71,050, with decrease in price, most probably short build-up.
  • FII’s bought huge 8.73 lacs Futures, mostly long build-up as their net OI increased by 18219 contracts (includes 81451 longs to 63982 shorts for the day) and the average price per contract comes to around 7343.04.
  • FII’s future open contract as on date is 471905.
  • PCR Open Interest (Volume) is moving higher and now at 0.811.
  • Initial support at 7200, with huge addition of 6.85 lacs for the day and below that at 7000 with huge OI of 47.78 lacs.
  • Initial resistance still at 7300 with OI of 36.85 lacs and above that at 7500 with highest OI of 58.50 lacs.
  • Day Range as per Option Table is 7188 - 7384 and as per VIX is 7202 - 7349 with 7292 as the Pivot.
Option Call for 21-05-2014
Buy Nifty 7200CE above 147 for targets of 168, 199 SL - 139
Buy Nifty 7300PE above 80 for targets of 98, 121 SL - 75

India VIX : 19.23 down by 1.40 points
Call OI : 56960900
Put OI : 46173400
PCR OI : 0.811
SMR : 23.72 (Bullish with Caution: Profit booking seen at higher levels, though the index is comfortably placed above all moving averages, but PCR below 1 and resistance developing around 7400-7500 level could be a dampener moving forward...)

Option Open Interest for 20-05-2014


Inference
The index opened up for the third day in a row and moved up to touch the high at 7320, though profit booking took the shine out of the index and it closed flat at 7275.50, small gain of 11.95 points. The broader market though was highly positive, with 1226 advances to 340 declines. Expected range till Expiry seems to be 7000-7500.
  • Call option 7400-7600 added 5.29 lacs huge amount of OI with short covering seen at 7200 and lower strike prices.
  • Put option 7300-7100 added 15.60 lacs huge amount of OI with profit booking seen at 6700 and lower strike prices.
  • Nifty Open Interest is at 2,16,25,500 down by 2,83,900, with small increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 28,73,700 up by 1,71,050, with decrease in price, most probably short build-up.
  • FII’s bought huge 8.73 lacs Futures, mostly long build-up as their net OI increased by 18219 contracts (includes 81451 longs to 63982 shorts for the day) and the average price per contract comes to around 7343.04.
  • FII’s future open contract as on date is 471905.
  • PCR Open Interest (Volume) is moving higher and now at 0.811.
  • Initial support at 7200, with huge addition of 6.85 lacs for the day and below that at 7000 with huge OI of 47.78 lacs.
  • Initial resistance still at 7300 with OI of 36.85 lacs and above that at 7500 with highest OI of 58.50 lacs.
  • Day Range as per Option Table is 7188 - 7384 and as per VIX is 7202 - 7349 with 7292 as the Pivot.
Option Call for 21-05-2014
Buy Nifty 7200CE above 147 for targets of 168, 199 SL - 139
Buy Nifty 7300PE above 80 for targets of 98, 121 SL - 75

India VIX : 19.23 down by 1.40 points
Call OI : 56960900
Put OI : 46173400
PCR OI : 0.811
SMR : 23.72 (Bullish with Caution: Profit booking seen at higher levels, though the index is comfortably placed above all moving averages, but PCR below 1 and resistance developing around 7400-7500 level could be a dampener moving forward...)

Monday, May 19, 2014

Option Open Interest for 19-05-2014

Inference
The index opened up by 74 points on the back of good global cues and better than expected election results, but saw profit booking to the lows of the day at 7193. The responsive buyers came back to move the index again back to the highs of the day at 7291 but closed just lower at 7263.55, huge gain of 60.55 points. The broader market was highly positive, with 1285 advances to 269 declines. Expected range till Expiry seems to be 7000-7500.
  • Call option 7300-7400 added 5.19 lacs huge amount of OI with short covering seen at 7200 and lower strike prices.
  • Put option 7300-6800 added 16.05 lacs huge amount of OI with profit booking seen at 6700 and lower strike prices.
  • Nifty Open Interest is at 2,19,09,400 up by 3,52,650, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 27,02,650 up by 1,58,550, with increase in price, most probably huge long build-up.
  • FII’s bought huge 8.16 lacs Futures, mostly long build-up as their net OI increased by 62651 contracts (includes 110078 longs to 93847 shorts for the day) and the average price per contract comes to around 7326.34.
  • FII’s future open contract as on date is 453686.
  • PCR Open Interest (Volume) has moved up a bit at 0.777.
  • Initial support at 7200, with huge addition of 3.27 lacs for the day and below that at 7000 with huge OI of 48.98 lacs.
  • Initial resistance at 7300 with OI of 36.67 lacs and above that at 7500 with highest OI of 56.86 lacs.
  • Day Range as per Option Table is 7148 - 7352 and as per VIX is 7185 - 7342 with 7249 as the Pivot.
Option Call for 20-05-2014
Buy Nifty 7200CE above 149 for targets of 189, 241 SL - 139
Buy Nifty 7300PE above 111 for targets of 133, 167 SL - 105

India VIX : 20.63 down by 3.66 points
Call OI : 58163500
Put OI : 45173850
PCR OI : 0.777
SMR : 26.56 (Bullish with Caution: Nifty stays within the election day range and may remain within it till expiry with bias being positive but resistance developing around 7400-7500 Level...)

Sunday, May 18, 2014

Option Open Interest for 16-05-2014

Inference
The index opened up by 147 points on the back of better than expected results coming out in the morning and went up to touch the highs of the day within the first hour of trade to the highs of 7563. Profit booking from thereon took the index to the lows of the day at 7131 but closed up at 7203.00, huge gain of 79.85 points. On a week on week basis the index gained huge 344.20 points or approx 5.02%. The broader market was just positive, with 802 advances to 724 declines. Expected range till Expiry seems to be 6900-7500.
  • Call option 7400-7700 added 22.84 lacs huge amount of OI with short covering seen at 7200 and lower strike prices.
  • Put option 7700-6900 added 64.73 lacs huge amount of OI with profit booking seen at 6800 and lower strike prices.
  • Nifty Open Interest is at 2,15,56,750 up by 36,21,150, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 25,44,100 up by 4,03,075, with increase in price, most probably huge long build-up.
  • FII’s sold huge 11.29 lacs Futures, mostly short build-up as their net OI increased by 333 contracts (includes 207808 longs to 230389 shorts for the day) and the average price per contract comes to around 7275.21.
  • FII’s future open contract as on date is 391035.
  • PCR Open Interest (Volume) though moved to 0.735 due to huge profit booking at 6500-6400PE Level.
  • Initial support at 7200, with huge addition of 11.64 lacs for the day and below that at 7000 with huge OI of 49.69 lacs.
  • Initial resistance at 7300 with OI of 33.76 lacs and above that at 7500 with highest OI of 58.36 lacs.
  • Day Range as per Option Table is 7169 - 7377 and as per VIX is 7111 - 7295 with 7299 as the Pivot.
Option Call for 19-05-2014
Buy Nifty 7200CE above 218 for targets of 261, 345 SL - 209
Buy Nifty 7200PE above 119 for targets of 149, 216 SL - 109

India VIX : 24.29 down by 12.48 points
Call OI : 62865450
Put OI : 46226600
PCR OI : 0.735
SMR : 33.03 (Bullish with Caution: With election result out of the way, the index should act as per Option Interest, which looks good with the addition of more than 64 lacs from 7700-6900PE level, Buy on Dips looks good...)

Thursday, May 15, 2014

Option Open Interest for 15-05-2014

Inference
Nifty opened flat but went up to touch the highs of the day at 7152 within the first few minutes, but saw the sellers coming back to move the index below the dotted line. A small pullback towards the end saw the index closed just up at 7123.15, a small gain of 14.40 points. The broader market was negative, with 533 advances to 986 declines. Expected range for tomorrow seems to be 6400-7500.
  • Call option 7100-7600 added 43.28 lacs huge amount of OI with short covering seen at 7000 and lower strike prices.
  • Put option 7100-6400 added 44.47 lacs huge amount of OI with profit booking seen at 6300 and lower strike prices.
  • Nifty Open Interest is at 1,79,35,600 up by 9,13,750, with small increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 21,41,025 up by 80,375, with increase in price, most probably long build-up.
  • FII’s bought 3.21 lacs Futures, mostly long build-up as their net OI increased by 12272 contracts (includes 71079 longs to 64651 shorts for the day) and the average price per contract comes to around 7143.54.
  • FII’s future open contract as on date is 390702.
  • PCR Open Interest (Volume) is at the lowest points just before the big event at 0.812.
  • Initial support still at 7000, with OI of 38.97 lacs and below that at 6800 with OI of 40.69 lacs.
  • Initial and best resistance at 7200 with huge OI of 61.16 lacs and above that at 7500 with huge OI of 58.07 lacs.
  • Day Range as per Option Table is 7028 - 7218 and as per VIX is 6986 - 7260 with 7119 as the Pivot.
Option Call for 16-05-2014
Buy Nifty 7200CE above 218 for targets of 231, 245 SL - 209
Buy Nifty 7000PE above 189 for targets of 213, 238 SL - 179

India VIX : 36.77 up by 4.35 points
Call OI : 61650100
Put OI : 50046900
PCR OI : 0.812
SMR : 45.29 (Bullish with Caution: The index is nicely poised around 7100 level just before the Big Event and based on Option Table can see a swing of 500-600 points for the next 2 days, Expected Range 6400-7500...)

Wednesday, May 14, 2014

Option Open Interest for 14-05-2014

Inference
Nifty opened flat and after the initial surge towards the highs of the day around 7142 but the sellers used the opportunity to sell the highs and the index went down to make low of 7080. Nifty ultimately closed the day flat at 7108.75. The broader market was positive, with 965 advances to 553 declines. Expected range till before Election result seems to be 6400-7500.
  • Call option 7100-7600 added 6.71 lacs huge amount of OI with short covering seen at 7000 and lower strike prices.
  • Put option 7100-6900 and 6700-6600 added 17.94 lacs huge amount of OI with profit booking seen at 6800 and 6400 strike prices.
  • Nifty Open Interest is at 1,70,21,850 up by 10,13,100, with no change, most probably huge long/short build-up.
  • Bank Nifty Open Interest is at 20,60,650 up by 1,54,250, with increase in price, most probably long build-up.
  • FII’s sold huge 1.44 lacs Futures, mostly short build-up as their net OI increased by 21088 contracts (includes 244759 longs to 53724 shorts for the day) and the average price per contract comes to around 7143.26.
  • FII’s future open contract as on date is 378430.
  • PCR Open Interest (Volume) is still below the danger level at 0.868.
  • Initial support still at 7000, with OI of 26.33 lacs and below that at 6900 with OI of 24.17 lacs.
  • Initial and very good resistance at 7200 with huge OI of 52.05 lacs and above that at 7500 with highest OI of 52.34 lacs.
  • Day Range as per Option Table is 7034 - 7181 and as per VIX is 6988 - 7229 with 7111 as the Pivot.
Option Call for 15-05-2014
Buy Nifty 7200CE above 189 for targets of 194, 207 SL - 181
Buy Nifty 7000PE above 165 for targets of 183, 202 SL - 158

India VIX : 32.42 up by 0.37 points
Call OI : 51521000
Put OI : 44703900
PCR OI : 0.868
SMR : 37.36 (Bullish with Caution: A pause day after 3 days of relentless upmove of more than 450 points, but the Bulls don’t seem too comfortable adding ATM puts, whereas resistance still good at 7200 level...)