Sunday, June 1, 2014

Option Open Interest for 30-05-2014

Inference
The index opened flat to positive and went on to make the high of the day at 7272 within the first few minutes of trade. The index then strayed down with each passing hour to close in the red at 7229.95, small loss of 5.70 points. On a week on week basis the index lost huge 137.15 points or approx 1.86%. The broader market was also just negative, with 763 advances to 789 declines. Expected range for the series right now seems to be 7000-7500.
  • Call option 7200-7700 added 26.44 lacs huge amount of OI with small short covering seen at 6900 and lower strike prices.
  • Put option 7300-6500 added 18.49 lacs huge amount of OI with small short covering seen at 7400 and higher strike prices.
  • Nifty Open Interest is at 1,66,96,000 up by 13,04,050, with not much change in price, most probably short/long build-up.
  • Bank Nifty Open Interest is at 27,22,175 up by 1,28,800, with decrease in price, most probably huge short build-up.
  • FII’s bought 2.93 lacs Futures, mostly long build-up as their net OI increased by 47340 contracts (includes 67635 longs to 61775 shorts for the day) and the average price per contract comes to around 7257.96.
  • FII’s future open contract as on date is 291729.
  • PCR Open Interest (Volume) has gone down to 0.813.
  • Initial support still at 7200, with OI of 23.37 and below that at 7000 with OI of 35.67 lacs.
  • Initial resistance at 7300 with OI of 31.08 lacs and above that at 7500 with highest OI of 46.14 lacs.
  • Day Range as per Option Table is 7126 - 7299 and as per VIX is 7168 - 7292 with 7207 as the Pivot.
Option Call for 02-06-2014
Buy Nifty 7300CE above 97 for targets of 109, 130 SL - 89
Buy Nifty 7200PE above 104 for targets of 114, 125 SL - 97

India VIX : 16.34 down by 0.35 points
Call OI : 30250250
Put OI : 24589800
PCR OI : 0.813
SMR : 20.10 (Bearish: The Euphoria of Big NDA win has mellowed down and the market is back on tune of global markets, the OI Table for the time being looks weak with PCR at 0.813...)

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