Wednesday, July 2, 2014

Option Open Interest for 02-07-2014

Inference
The index opened positive and stayed in the green for the entire session of trade with new highs with each passing hour to close near the top of the day at 7725.15, a huge gain of 90.45 points. The broader market was also positive, with 980 advances to 567 declines. Broader range for July series comes at 7500-8000.
  • Call option 7800-8100 added 10.40 lacs huge amount of OI with short covering seen at 7700 and below strike prices.
  • Put option 7900-7400 added 32.28 lacs huge amount of OI with small profit booking seen at 7200 and below strike prices.
  • Nifty Open Interest is at 1,45,18,650 up by 9,14,900, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 21,40,775 up by 55,700, with increase in price, most probably long build-up.
  • FII’s bought huge 7.24 lacs Futures, mostly long build-up as their net OI increased by 14485 contracts (includes 53142 longs to 38657 shorts for the day) and the average price per contract comes to around 7755.45.
  • FII’s Index future open contract as on date is 206962 Longs to 110633 Shorts.
  • PCR Open Interest (Volume) is still below 1 at 0.981.
  • Initial support at 7700, with huge addition for the day at 6.22 lacs and best at 7500 with OI of 41.65 lacs.
  • Initial resistance at 7800, with OI of 36.78 lacs and best at 8000 with highest OI of 67.84 lacs.
  • Day Range as per Option Table is 7648 - 7777 and as per VIX is 7654 - 7796 with 7712 as the Pivot.
Option Call for 03-07-2014
Buy Nifty 7800CE above 122 for targets of 132, 145 SL - 115
Buy Nifty 7600PE above 92 for targets of 101, 115 SL - 88

India VIX : 17.57 down by 0.09 points
Call OI : 30003900
Put OI : 29429050
PCR OI : 0.981
SMR : 17.91 (Bullish: A perfect gap-up followed by extensive buying saw the index close at all time high above 7700, with the PE writers coming back with huge addition from 7800-7400 level, 7800 still looks like a good resistance...)

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