Wednesday, January 2, 2013

Option Open Interest for 02-01-2013

Inference
The pattern of yesterday was repeated again with nifty opening positive and then staying in a narrow range throughout the day to close just below the 6000 mark at 5993.25, a handsome gain of 42.40 points. The broader market was also good, with 958 advances to 569 declines. The OI Table saw some liquidation at 6000CE for the first time in the series.
  • Call option 6200-6400 added 33.03 lacs huge amount of OI with some short covering seen at 6000 and below strike prices.
  • Put Option 6100-5700 added 18.65 lacs huge amount of OI with profit booking seen at 5600 and lower levels.
  • Highest accumulation on Call option 6200 at 74.3 lacs & 6000 at 52.4 lacs whereas Put option 5800 at 59.7 lacs & 5700 at 54.5 lacs.
  • Nifty Open Interest is at 1,71,42,700 up by 1,33,650, with huge increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 11,64,525 up by 53,650, with huge increase in price, most probably long build-up.
  • FII’s bought huge 6.31 lacs of Futures, most probably long build-up, as their net OI increased by 5682 contract and the average price per contract comes to around 6046.
  • FII’s future open contract as on date is 258541.
  • PCR Open Interest (Volume) has just gone below the safe zone and now at 1.187.
  • Support at 5900PE with OI above 49.8 lacs and below that at 5800 with OI of 59.7 lacs.
  • Resistance now at 6100CE, with OI above 45.2 lacs, and above that at 6200 with highest OI of 74.3 lacs.
  • Range as per Option Table is 5952 - 6035 and as per VIX is 5950 - 6036 with 5960 as the Pivot.
Option Call for 03-01-2013
Buy Nifty 6100CE above 58 for targets of 63, 71 SL - 55
Buy Nifty 6000PE above 68 for targets of 73, 78 SL - 65

India VIX : 13.71 up by 0.02 points
Call OI : 32200950
Put OI : 38222050
PCR OI : 1.187
SMR : 11.55 (Bullish: Bulls just missed closing above the 6000 mark though it hovered around it for the better part of the, maybe it left for the morrow. Bulls right now in CONTROL...)