Sunday, July 13, 2014

Option Open Interest for 11-07-2014

Inference
The index opened flat and after making initial high around 7626, saw huge selling pressure with the index moving down with each passing hour to close near the lows of the day at 7459.60, a huge loss of 108.15 points. On a week on week basis the index lost 292 points, the highest in the last 1 year. The broader market was also very weak, with just 232 advances to 1316 declines. Broader range for the series has shifted down to 7300-7800.
  • Call option 7400-7700 added 38.92 lacs huge amount of OI with profit booking seen at 7800 and above strike prices.
  • Put option 7300-7100 added 19.25 lacs huge amount of OI with short covering seen at 7500 and above strike prices.
  • Nifty Open Interest is at 1,37,16,000 up by 86,800, with decrease in price, most probably small short build-up.
  • Bank Nifty Open Interest is at 21,10,475 down by 93,050, with decrease in price, most probably huge long liquidation.
  • FII’s sold huge 7.21 lacs Futures, which includes 15888 long liquidation and 1461 short covering, with net OI decreased by 17349 contracts (includes 63774 longs to 78201 shorts for the day) and the average price per contract comes to around 7440.57.
  • FII’s Index future open contract as on date is 155416 Longs to 139307 Shorts.
  • PCR Open Interest (Volume) is very weak at 0.729.
  • Initial and best support now at 7400, with huge OI of 43.18 lacs and below that at 7300 with OI of 44.06 lacs.
  • Initial resistance now at 7500, with huge OI addition of 14.11 lacs and above that at 7600 with huge OI of 40.36 lacs.
  • Day Range as per Option Table is 7406 - 7590 and as per VIX is 7398 - 7521 with 7511 as the Pivot.
Option Call for 14-07-2014
Buy Nifty 7500CE above 123 for targets of 145, 180 SL - 117
Buy Nifty 7500PE above 111 for targets of 137, 163 SL - 93

India VIX : 15.72 down by 0.25 points
Call OI : 47455100
Put OI : 34605400
PCR OI : 0.729
SMR : 21.56 (Bearish with Caution: Participants have shrugged off the General Budget and has started liquidating longs, still not much short addition, though huge weakness in Option Table with PCR at the lowest point at 0.729...)