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...)