Tuesday, July 15, 2014

Option Open Interest for 15-07-2014

Inference
The index opened strong just below 7500 but saw huge buying interest to move above 7500. Profit booking saw the index to the lows of the day around 7460, but the buyers came back and saw the index back to the highs of the day at 7535, but closed just lower at 7526.65, a huge gain of 72.50 points. The broader market was also strong, with 1134 advances to 412 declines. Broader range for the series is still at 7300-7800.
  • Call option 7600 added 4.23 lacs huge amount of OI with short covering seen at 7500 and below strike prices.
  • Put option 7500-7400, 7100 added 10.16 lacs huge amount of OI with short covering seen at 7700 and above strike prices.
  • Nifty Open Interest is at 1,43,83,800 up by 2,23,700, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 21,18,950 up by 10,725, with increase in price, most probably small long build-up.
  • FII’s bought 0.90 lacs Futures, which includes 8503 long addition and 6709 short addition, with net OI increased by 15212 contracts (includes 37793 longs to 35999 shorts for the day) and the average price per contract comes to around 7525.07.
  • FII’s Index future open contract as on date is 168913 Longs to 137553 Shorts.
  • PCR Open Interest (Volume) is at 0.731.
  • Initial and best support now at 7500, with huge OI of 48.67 lacs and below that at 7400 with OI of 45.78 lacs.
  • Initial resistance at 7600, with huge OI of 51.75 lacs and above that at 7700 with huge OI of 46.45 lacs.
  • Day Range as per Option Table is 7430 - 7596 and as per VIX is 7468 - 7585 with 7507 as the Pivot.
Option Call for 16-07-2014
Buy Nifty 7500CE above 106 for targets of 120, 135 SL - 95
Buy Nifty 7500PE above 80 for targets of 95, 121 SL - 73

India VIX : 14.77 down by 0.79 points
Call OI : 47184000
Put OI : 34509350
PCR OI : 0.731
SMR : 20.19 (Bearish to Neutral: After 5 days of correction, the index saw sharp up-move and closed above the psychological level of 7500, but technicals are still weak with huge resistance around 7600...)