Monday, June 30, 2014

Option Open Interest for 30-06-2014

Inference
The index opened positive and saw buying interest from the morning itself to scale one resistance after another to move above 7600 and close near the highs at 7611.35, a huge gain of 102.55 points. The broader market was also positive, with 1155 advances to 398 declines. Broader range for July series comes at 7000-8000.
  • Call option 7700-8100 added 26.87 lacs huge amount of OI with short covering seen at 7600 and below strike prices.
  • Put option 7800-7100 added 18.92 lacs huge amount of OI with small profit booking seen at 7000 strike price.
  • Nifty Open Interest is at 1,39,74,750 down by 78,150, with increase in price, most probably small short covering.
  • Bank Nifty Open Interest is at 21,34,475 up by 50,075, with increase in price, most probably long build-up.
  • FII’s sold 4.24 lacs Futures, mostly long liquidation as their net OI decreased by 8477 contracts (includes 33922 longs to 42399 shorts for the day) and the average price per contract comes to around 7640.00.
  • FII’s Index future open contract as on date is 189593 Longs to 106520 Shorts.
  • PCR Open Interest (Volume) is at 0.898.
  • Initial support at 7500, with OI of 32.25 lacs and best at 7000 with OI of 36.17 lacs.
  • Initial resistance at 7700, with OI of 27.49 lacs and best at 8000 with highest OI of 60.62 lacs.
  • Day Range as per Option Table is 7524 - 7659 and as per VIX is 7540 - 7683 with 7589 as the Pivot.
Option Call for 01-07-2014
Buy Nifty 7700CE above 119 for targets of 133, 148 SL - 111
Buy Nifty 7600PE above 151 for targets of 169, 200 SL - 139

India VIX : 17.87 up by 0.24 points
Call OI : 28413800
Put OI : 25526600
PCR OI : 0.898
SMR : 19.89 (Neutral to Bullish: Nifty had a 100 pointer, but did not see any OI addition and Option Table also saw PCR moving down, Longs need to be cautious at Higher Levels...)