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...)

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