Tuesday, July 29, 2014

Option Open Interest for 28-07-2014

Inference
The index opened flat around 7800 level, but saw huge selling pressure from the onset to move to the lows of the day at 7722. The buyers tried to pull the index back but were unable to move much and closed weak at 7748.70, loss of 41.75 points. The broader market was also weak, with 520 advances to 1024 declines. Broader range for the series has moved down to at 7650-7850.
  • Call option 7700-7800 added 21.89 lacs huge amount of OI with profit booking seen at 7900 and above strike prices.
  • Put option 7600 added 2.72 lacs OI with short covering seen at 7700 and above strike prices.
  • Nifty Open Interest is at 1,19,30,900 down by 29,19,050, whereas Aug series added 29.30 lacs with decrease in price, most probably 100% rollover.
  • Bank Nifty Open Interest is at 14,95,150 down by 3,50,625, whereas Aug series added 3.46 lacs with decrease in price, mostly rollover with small long liquidation.
  • FII’s bought 0.39 lacs Futures, which includes 14513 contracts long addition and 14513 contracts short addition, with increase in net OI by 28246 contracts (includes 143386 longs to 142606 shorts for the day) and the average price per contract comes to around 7735.33.
  • FII’s Index future open contract as on date is 249663 Longs to 177235 Shorts.
  • PCR Open Interest (Volume) is at 1.022
  • Initial and best support still at 7700, with huge OI of 63.69 lacs.
  • Initial resistance at 7800, with OI of 66.64 lacs and above that at 7900 with OI of 51.00 lacs.
  • Day Range as per Option Table is 7693 - 7817 and as per VIX is 7691 - 7807 with 7757 as the Pivot.
Option Call for 30-07-2014
Buy Nifty 7700CE above 66 for targets of 91, 128 SL - 59
Buy Nifty 7800PE above 64 for targets of 86, 109 SL - 58

India VIX : 14.32 up by 0.10 points
Call OI : 41438850
Put OI : 42346750
PCR OI : 1.022
SMR : 14.01 (Bearish to Neutral: Two days to go for Expiry and based on Option Table, 7800 now looks like a huge resistance, can see some range bound moves within the 7700-7800 range...)