Thursday, January 3, 2013

Option Open Interest for 03-01-2013

Inference
Another gap-up for Nifty, but today it was sold off at the start, though the bulls came back to move the index above the psychological level of 6000 and closed the day with a gain of 16.25 points at 6009.50. The broader market outperformed the index, with 899 advances to 610 declines. The OI Table saw 6200CE open interest above 80 lacs for the first time and now is the ceiling for this expiry.
  • Call option 6100-6400 added 11.76 lacs huge amount of OI with some short covering seen at 6000 and below strike prices.
  • Put Option 6100-5900 and 5700-5600 added 22.95 lacs huge amount of OI with profit booking seen at 5500 and lower levels.
  • Highest accumulation on Call option 6200 at 80.7 lacs & 6300 at 52.3 lacs whereas Put option 5800 at 58.5 lacs & 5900 at 56.5 lacs.
  • Nifty Open Interest is at 1,71,39,500 down by 3,200, with small increase in price, most probably small short covering.
  • Bank Nifty Open Interest is at 11,67,700 up by 3,175, with small decrease in price, most probably small short build-up.
  • FII’s bought huge 7.24 lacs of Futures, most probably long build-up, as their net OI increased by 5018 contract and the average price per contract comes to around 6045.
  • FII’s future open contract as on date is 263559.
  • PCR Open Interest (Volume) is exactly at 1.200.
  • Support gaining strength at 5900PE with OI above 56.5 lacs and below that at 5800 with OI of 58.5 lacs.
  • Resistance now at 6100CE, with OI above 47.2 lacs, and above that at 6200 with highest OI of 80.7 lacs.
  • Range as per Option Table is 5963 - 6047 and as per VIX is 5967 - 6052 with 5985 as the Pivot.
Option Call for 04-01-2013
Buy Nifty 6100CE above 56 for targets of 62, 70 SL - 53
Buy Nifty 6000PE above 65 for targets of 71, 79 SL - 61

India VIX : 13.47 down by 0.24
Call OI : 33203650
Put OI : 39836250
PCR OI : 1.200
SMR : 11.23 (Bullish: A perfect consolidation day, with the Bulls getting a close just above the 6000 mark after 2 years, now need more from them to hold onto the coveted mark or else the Bears will spoil the party...)