Wednesday, July 16, 2014

Option Open Interest for 16-07-2014

Inference
The index opened strong and stayed in a narrow range with positive bias, but a small dip to the lows of the day saw the buyers come back and moved the index above 7600. The index closed near the highs of the day at 7624.40, a huge gain of 97.75 points. The broader market was also strong, with 1161 advances to 389 declines. Broader range for the series is at 7400-7800.
  • Call option 7900 added 1.73 lacs huge amount of OI with short covering seen at 7600 and below strike prices.
  • Put option 7700-7200 added 32.44 lacs huge amount of OI with profit booking seen at 7100 and below strike prices.
  • Nifty Open Interest is at 1,45,47,900 up by 1,64,100, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 22,96,900 up by 1,77,950, with increase in price, most probably huge long build-up.
  • FII’s sold 0.32 lacs Futures, which includes 18754 long addition and 19384 short addition, with increase in net OI by 38138 contracts (includes 59912 longs to 60542 shorts for the day) and the average price per contract comes to around 7642.90.
  • FII’s Index future open contract as on date is 187667 Longs to 156937 Shorts.
  • PCR Open Interest (Volume) has moved up to 0.849.
  • Initial support now at 7600, with huge OI addition for the day at 8.74 lacs and below that at 7500 with huge OI of 60.77 lacs.
  • Initial resistance has moved up to 7700, with OI of 43.73 lacs and above that at 7800 with huge OI of 47.80 lacs.
  • Day Range as per Option Table is 7525 - 7687 and as per VIX is 7566 - 7683 with 7599 as the Pivot.
Option Call for 17-07-2014
Buy Nifty 7600CE above 103 for targets of 126, 151 SL - 90
Buy Nifty 7700PE above 133 for targets of 155, 185 SL - 125

India VIX : 14.73 down by 0.04 points
Call OI : 43989150
Put OI : 37333150
PCR OI : 0.849
SMR : 17.36 (Bullish: The index saw huge up-move, with the PE writers in full command for the day and now 7500 looks good for the series, though resistance still around 7700-7800 level...)