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...)