Sunday, June 15, 2014

Option Open Interest for 13-06-2014

Inference
The index opened positive and stayed within a narrow range for the better part of first half, but saw huge unwinding from thereon to close near the lowest point at 7542.10, a huge loss of 107.80 points. On a week on week basis the index lost 41.30 points or approx 0.54%. The broader market was also very weak, with just 299 advances to 1282 declines. Expected range for the series now at 7400-7800.
  • Call option 7600-7800 added 27.81 lacs huge amount of OI with profit booking seen at 7900 and above strike prices.
  • Put option 7300 added 0.70 lacs of OI with short covering seen at 7500 and above strike prices.
  • Nifty Open Interest is at 1,51,33,600 down by 15,58,650, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 23,86,300 up by 27,800, with decrease in price, most probably small short build-up.
  • FII’s bought huge 7.49 lacs Futures, mostly short build-up as their net OI increased by 4293 contracts (includes 52509 longs to 67498 shorts for the day) and the average price per contract comes to around 7560.91.
  • FII’s future open contract as on date is 353151.
  • PCR Open Interest (Volume) has again dipped below 1 at 0.959.
  • Initial and best support at 7500, with OI of 51.06 lacs and below that at 7400 with OI of just 34.75 lacs.
  • Initial and good resistance at 7600 with OI of 47.58 lacs and above that 7700 with huge OI of 55.32 lacs.
  • Day Range as per Option Table is 7492 - 7650 and as per VIX is 7472 - 7612 with 7582 as the Pivot.
Option Call for 16-06-2014
Buy Nifty 7600CE above 83 for targets of 108, 148 SL - 79
Buy Nifty 7600PE above 101 for targets of 127, 155 SL - 85

India VIX : 17.76 up by 0.86 points
Call OI : 42709700
Put OI : 40968100
PCR OI : 0.959
SMR : 18.51 (Neutral to Bearish: Nifty had the highest one day loss in the last 3 months, and looks vulnerable for more, but support still very good around 7500 level, Sell on Rise based on OI Table...)