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...)