Thursday, June 19, 2014

Option Open Interest for 19-06-2014

Inference
The index opened positive around 7580 and went on to touch the highs of the day around 7606 with the first few minutes of trade. The sellers got active around the highs and moved it down to 7502, but some lower level buying saw the index close at 7540.70, a loss of 17.50 points. The broader market was also weak, with 658 advances to 867 declines. Expected range for the series now at 7400-7700.
  • Call option 7500-7900 added 25.71 lacs huge amount of OI with short huge covering seen at 7400 and below strike prices.
  • Put option 7200-7000 added 2.96 lacs huge amount of OI with short covering seen at 7600 and above strike prices.
  • Nifty Open Interest is at 1,42,11,850 up by 85,700, whereas next series added 3.06 lacs with decrease in price, most probably short build-up in both series.
  • Bank Nifty Open Interest is at 23,29,000 down by 70,525, whereas next series added 0.18 lcas with decrease in price, most probably some rollover with long liquidation.
  • FII’s sold huge 6.07 lacs Futures, mostly short build-up as their net OI increased by 17702 contracts (includes 59826 longs to 71972 shorts for the day) and the average price per contract comes to around 7559.03.
  • FII’s future open contract as on date is 371794.
  • PCR Open Interest (Volume) has gone down near the lows of the series at 0.893.
  • Initial and best support still at 7500, with huge OI of 51.11 lacs and below that at 7400 with OI of 44.26 lacs.
  • Initial and best resistance at 7600, with highest OI of 68.49 lacs and above that 7700 with huge OI of 66.90 lacs.
  • Day Range as per Option Table is 7466 - 7627 and as per VIX is 7467 - 7615 with 7550 as the Pivot.
Option Call for 20-06-2014
Buy Nifty 7500CE above 109 for targets of 132, 166 SL - 100
Buy Nifty 7600PE above 88 for targets of 118, 151 SL - 81

India VIX : 18.74 up by 0.16 points
Call OI : 46269050
Put OI : 41306050
PCR OI : 0.893
SMR : 20.99 (Neutral to Bearish: Nifty in correction mode for the last few days after making high around 7700, but the Bulls are still holding on to 7500 level, may see some range bound days till expiry...)