Monday, June 16, 2014

Option Open Interest for 16-06-2014

Inference
The index opened flat to negative and went on to touch the lows of the day around 7488. Nifty saw some buying interest around the lows and moved up to close above the psychological level of 7500, but still weak at 7533.55, small loss of 8.55 points. The broader market was also weak, with 693 advances to 844 declines. Expected range for the series now at 7400-7800.
  • Call option 7500-7600 added 9.48 lacs huge amount of OI with profit booking seen at 7700 and above strike prices.
  • Put option 7400 added 4.95 lacs of OI with short covering seen at 7500 and above strike prices.
  • Nifty Open Interest is at 1,49,59,100 down by 1,74,500, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 23,31,850 down by 54,450, with decrease in price, most probably long liquidation.
  • FII’s bought 1.03 lacs Futures, mostly long build-up as their net OI increased by 24017 contracts (includes 62096 longs to 60035 shorts for the day) and the average price per contract comes to around 7555.47.
  • FII’s future open contract as on date is 377168.
  • PCR Open Interest (Volume) is still below 1 at 0.953.
  • Initial and best support still at 7500, with OI of 50.50 lacs and below that at 7400 with OI of 39.70 lacs.
  • Initial and super resistance at 7600, with OI of 54.06 lacs and above that 7700 with huge OI of 54.46 lacs.
  • Day Range as per Option Table is 7451 - 7599 and as per VIX is 7463 - 7604 with 7523 as the Pivot.
Option Call for 17-06-2014
Buy Nifty 7500CE above 109 for targets of 125, 143 SL - 103
Buy Nifty 7600PE above 103 for targets of 120, 145 SL - 97

India VIX : 17.98 up by 0.22 points
Call OI : 42934800
Put OI : 40915550
PCR OI : 0.953
SMR : 18.87 (Neutral to Bearish: Nifty had a DOJI close after the huge sell-off of Friday, with the CE writers trying to tighten the noose around the Bulls neck. 7600 Level for the time being looks like a huge resistance...)