Thursday, June 26, 2014

Option Open Interest for 26-06-2014

Inference
The index opened weak and saw selling pressure within the first few minutes of trade to the lows near 7510 and stayed in a narrow range for the next 4 hours. A huge sell-off in the last hour saw the index close below 7500 at 7493.20, a huge loss of 76.05 points. The broader market was also weak, with 685 advances to 861 declines. Range for July at start of series comes at 7000-8000.
  • Call option 7500-8100 added 46.27 lacs huge amount of OI.
  • Put option 8000-6900 added 47.16 lacs small amount of OI.
  • Nifty Open Interest is at 1,42,18,300 up by 32,97,750, whereas June series liquidated 33.62 lacs with decrease in price, most probably 100% rollover.
  • Bank Nifty Open Interest is at 20,19,300 up by 8,85,550, whereas June series liquidated 4.15 lacs with decrease in price, most probably 100% rollover with huge short build-up.
  • FII’s bought 2.02 lacs Futures, mostly long build-up as their net OI increased by 38741 contracts (includes 137416 longs to 133369 shorts for the day) and the average price per contract comes to around 7544.35.
  • FII’s Index future open contract as on date is 197066 Longs to 105231 Shorts.
  • PCR Open Interest (Volume) at start of the series is below 1 at 0.913.
  • Initial support at 7400, with OI of 24.20 lacs and best at 7000 with OI of 28.71 lacs.
  • Initial resistance at 7600, with OI of 23.09 lacs and best at 8000 with highest OI of 45.24 lacs.
  • Day Range as per Option Table is 7438 - 7575 and as per VIX is 7424 - 7563 with 7515 as the Pivot.
Option Call for 27-06-2014
Buy Nifty 7600CE above 138 for targets of 152, 178 SL - 133
Buy Nifty 7500PE above 140 for targets of 153, 165 SL - 132

India VIX : 17.70 down by 0.61 points
Call OI : 22784350
Put OI : 20812850
PCR OI : 0.913
SMR : 19.38 (Neutral to Bearish: The start of the new series saw PCR below 1 with highest OI at 8000CE Level, could see a huge range expansion moving forward...)