Tuesday, June 24, 2014

Option Open Interest for 24-06-2014

Inference
The index opened positive and saw huge buying interest to move towards the highs of the day around 7593, but a small sell-off towards the end saw the index close at 7580.20, a huge gain of 86.85 points. The broader market was positive, with 1118 advances to 422 declines. Expected range for the series now at 7500-7700.
  • Call option 7700 added 9.96 lacs huge amount of OI with short covering seen at 7600 and below strike prices.
  • Put option 7600-7500 added 35.44 lacs huge amount of OI with profit booking seen at 7400 and below strike prices.
  • Nifty Open Interest is at 1,13,67,550 down by 21,87,150, whereas next series added 36.87 lacs with increase in price, most probably 100% rollover with huge long build-up in next series.
  • Bank Nifty Open Interest is at 17,92,850 down by 3,57,775, whereas next series added 3.46 lacs with increase in price, most probably 100% rollover.
  • FII’s bought huge 8.14 lacs Futures, mostly long build-up as their net OI increased by 25015 contracts (includes 213021 longs to 196734 shorts for the day) and the average price per contract comes to around 7620.93.
  • FII’s future open contract as on date is 423900.
  • PCR Open Interest (Volume) has moved up to 0.990.
  • Initial and best support at 7500, with huge OI of 66.42 lacs and below that at 7400 with OI of 41.23 lacs.
  • Initial resistance at 7600, with huge OI of 64.71 lacs and above that 7700 with highest OI of 78.44 lacs.
  • Day Range as per Option Table is 7493 - 7642 and as per VIX is 7504 - 7656 with 7563 as the Pivot.
Option Call for 25-06-2014
Buy Nifty 7500CE above 100 for targets of 129, 159 SL - 89
Buy Nifty 7600PE above 53 for targets of 75, 113 SL - 49

India VIX : 19.19 up by 0.23 points
Call OI : 42596650
Put OI : 42160500
PCR OI : 0.990
SMR : 19.39 (Neutral to Bullish: The index saw end of corrective decline with a huge upmove missing 7600 by a whisker with 7500 now as strong support till expiry...)

No comments:

Post a Comment