Monday, January 7, 2013

Option Open Interest for 07-01-2013

Inference
Nifty opened at a new high but was sold off from the word go. The index went down with each passing hour, gaining momentum during the dying moments to close at the lows of the day at 5988.40 a loss of 27.75 points. The broader market performed well, with 841 advances to 683 declines. The OI Table saw support developing at 5900 and resistance around 6100 level.
  • Call option 6100-6300 added 11.80 lacs huge amount of OI with some short covering seen at 6000 and below strike prices.
  • Put Option 5900 added 4.01 lacs huge amount of OI with profit booking seen at 5800 and lower levels.
  • Highest accumulation on Call option 6200 at 83.2 lacs & 6100 at 55.3 lacs whereas Put option 5800 at 63.1 lacs & 5900 at 62.0 lacs.
  • Nifty Open Interest is at 1,60,61,700 down by 7,24,350, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 11,17,400 down by 39,675, with decrease in price, most probably long liquidation.
  • FII’s sold huge 3.31 lacs of Futures, most probably long liquidation, as their net OI decreased by 6001 contract and the average price per contract comes to around 6037.
  • FII’s future open contract as on date is 251365.
  • PCR Open Interest (Volume) is still hovering above 1.2 and now at 1.242.
  • Support gaining momentum at 5900PE with OI above 62 lacs and below that at 5800 with OI of 63.1 lacs.
  • Resistance at 6100CE got stronger, with huge addition for the day at 5.13 lacs, and above that at 6200 with highest OI of 83.2 lacs.
  • Range as per Option Table is 5959 - 6039 and as per VIX is 5945 - 6032 with 5995 as the Pivot.
Option Call for 08-01-2013
Buy Nifty 6100CE above 48 for targets of 55, 66 SL - 45
Buy Nifty 6000PE above 66 for targets of 73, 80 SL - 62

India VIX : 13.92 up by 0.55
Call OI : 33364100
Put OI : 41447850
PCR OI : 1.242
SMR : 11.21 (Bullish to Neutral: Bears made inroads with a close below 6000 after 3 days, a follow-up action can see good correction or else Bulls will be back to take Nifty to new highs...)