Tuesday, June 10, 2014

Option Open Interest for 10-06-2014

Inference
The index opened around 7680, but saw profit booking to make a low of 7579 within the first few minutes of trades. The responsive buyers took control from thereon to move the index up and close in green at 7656.40, miniscule gain of 1.80 points. The broader market was flat, with 825 advances to 771 declines. Expected range for the series now at 7400-7800.
  • Call option 7600-8000 added 10.25 lacs huge amount of OI with huge short covering seen at 7500 and lower strike prices.
  • Put option 7700-7500 added 5.91 lacs huge amount of OI with profit booking seen at 7400 and lower strike prices.
  • Nifty Open Interest is at 1,60,92,350 up by 9,20,750, with no change in price, most probably huge long/short build-up.
  • Bank Nifty Open Interest is at 23,90,250 up by 32,300, with decrease in price, most probably short build-up.
  • FII’s sold huge 12.59 lacs Futures, mostly short build-up as their net OI increased by 32340 contracts (includes 51072 longs to 76244 shorts for the day) and the average price per contract comes to around 7675.53.
  • FII’s future open contract as on date is 325579.
  • PCR Open Interest (Volume) is at 1.057.
  • Initial support still at 7600, with OI of 33.50 lacs and below that at 7500 with highest OI of 45.55 lacs.
  • Initial resistance at 7700 with OI of 40.89 lacs and above that 7800 with OI of 43.15 lacs.
  • Day Range as per Option Table is 7564 - 7720 and as per VIX is 7590 - 7723 with 7640 as the Pivot.
Option Call for 11-06-2014
Buy Nifty 7600CE above 126 for targets of 149, 170 SL - 117
Buy Nifty 7700PE above 120 for targets of 141, 165 SL - 114

India VIX : 16.66 down by 0.44 points
Call OI : 38461300
Put OI : 40650300
PCR OI : 1.057
SMR : 15.76 (Bullish: After 3 days of huge up-move, the index took a breather but saw 7500PE writers claiming the top spot, decline if any will be limited...)