Sunday, June 29, 2014

Option Open Interest for 27-06-2014

Inference
The index opened strong above 7500 and after making initial high of 7539, saw selling pressure and dipped to the lows of the day at 7482. Weekend short covering saw the index close in green at 7508.80, a small gain of 15.60 points. On a week on week basis the index was flat. The broader market was just positive, with 823 advances to 712 declines. Range for July at start of series comes at 7000-8000.
  • Call option 7500-8000 added 24.04 lacs huge amount of OI with profit booking seen at 8100 and above strike prices.
  • Put option 7500-6900 added 23.75 lacs huge amount of OI with small short covering seen at 7800 strike price.
  • Nifty Open Interest is at 1,40,52,900 down by 1,65,700, with increase in price, most probably small short covering.
  • Bank Nifty Open Interest is at 20,84,400 up by 65,100, with decrease in price, most probably huge short build-up.
  • FII’s sold 0.14 lacs Futures, mostly long liquidation as their net OI decreased by 285 contracts (includes 24774 longs to 25059 shorts for the day) and the average price per contract comes to around 7545.40.
  • FII’s Index future open contract as on date is 194014 Longs to 102464 Shorts.
  • PCR Open Interest (Volume) is at 0.921.
  • Initial support at 7500, with OI of 26.00 lacs and best at 7000 with OI of 36.83 lacs.
  • Initial resistance at 7600, with OI of 28.85 lacs and best at 8000 with highest OI of 50.29 lacs.
  • Day Range as per Option Table is 7441 - 7571 and as per VIX is 7440 - 7578 with 7510 as the Pivot.
Option Call for 30-06-2014
Buy Nifty 7600CE above 128 for targets of 140, 152 SL - 123
Buy Nifty 7500PE above 136 for targets of 148, 163 SL - 129

India VIX : 17.63 down by 0.07 points
Call OI : 25596700
Put OI : 23570150
PCR OI : 0.921
SMR : 19.14 (Neutral: The new series started with close above the psychological level of 7500, and staying above can be positive for a touch of the upper range, though huge resistance developing at higher levels...)