Thursday, June 12, 2014

Option Open Interest for 12-06-2014

Inference
The index opened positive and stayed within a narrow range with all dips being bought with ease and the index closed positive at 7649.90, small gain of 23.05 points. The broader market was also positive, with 822 advances to 763 declines. Expected range for the series now at 7500-7800.
  • Call option 7800, 8000 added 2.29 lacs huge amount of OI with huge short covering seen at 7600 and lower strike prices.
  • Put option 7800-7500 added 9.79 lacs huge amount of OI with profit booking seen at 7400 and lower strike prices.
  • Nifty Open Interest is at 1,66,92,250 up by 6,07,300, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 23,58,500 down by 9,100, with increase in price in future, most small short covering.
  • FII’s bought 1.99 lacs Futures, mostly long build-up as their net OI increased by 16847 contracts (includes 35344 longs to 31371 shorts for the day) and the average price per contract comes to around 7676.73.
  • FII’s future open contract as on date is 348858.
  • PCR Open Interest (Volume) is at 1.063.
  • Initial support at 7600, with OI of 41.33 lacs and below that at 7500 with huge OI of 53.22 lacs.
  • Initial resistance still at 7700, with OI of 45.04 lacs and above that 7800 with huge OI of 51.09 lacs.
  • Day Range as per Option Table is 7563 - 7711 and as per VIX is 7582 - 7718 with 7634 as the Pivot.
Option Call for 13-06-2014
Buy Nifty 7600CE above 119 for targets of 134, 150 SL - 112
Buy Nifty 7700PE above 110 for targets of 129, 157 SL - 103

India VIX : 16.90 down by 0.16 points
Call OI : 40395400
Put OI : 42952250
PCR OI : 1.063
SMR : 15.89 (Bullish: After a negative close yesterday, the index is back on its green ways, with the PE writers taking charge with huge addition from 7800-7500 level, resistance still very good at 7700...)