Tuesday, January 8, 2013

Option Open Interest for 08-01-2013

Inference
Nifty opened flat but got sold off to the lows of the day around 5965, but responsive buyers took control towards the end and with the aid of huge short covering the index closed positive at 6001.70 a gain of 13.30 points. The broader market was unable to match Nifty and was weak, with 669 advances to 841 declines. The OI Table saw huge addition from 6000-5700PE levels with 5800PE OI touching 70 lacs.
  • Call option 6100 added 2.42 lacs huge amount of OI with some short covering seen at 5900 and below strike prices.
  • Put Option 6100-5700 added 17.52 lacs huge amount of OI with profit booking seen at 5600 and lower levels.
  • Highest accumulation on Call option 6200 at 80.7 lacs & 6100 at 57.7 lacs whereas Put option 5800 at 70.9 lacs & 5900 at 63.5 lacs.
  • Nifty Open Interest is at 1,56,95,450 down by 3,66,250, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 10,94,625 down by 22,775, with increase in price, most probably huge short covering.
  • FII’s bought small 0.59 lacs of Futures, most probably short covering, as their net OI decreased by 5426 contract and the average price per contract comes to around 6056.
  • FII’s future open contract as on date is 245939.
  • PCR Open Interest (Volume) is comfortably placed at 1.282.
  • Support looking good at 5900PE with OI above 63.5 lacs and below that at 5800 with OI of 70.9 lacs.
  • Resistance at 6100CE, with OI above 57.7 lacs, and above that at 6200 with highest OI of 80.7 lacs.
  • Range as per Option Table is 5954 - 6035 and as per VIX is 5960 - 6043 with 6000 as the Pivot.
Option Call for 09-01-2013
Buy Nifty 6100CE above 46 for targets of 52, 58 SL - 42
Buy Nifty 6000PE above 60 for targets of 70, 88 SL - 57

India VIX : 13.27 down by 0.65 points
Call OI : 32782850
Put OI : 42016200
PCR OI : 1.282
SMR : 10.35 (Bullish: Bears got the desired follow-up but were unable to sustain and the Bulls came back with vigour to move the index back above the psychological level of 6000, weakness any seen has evaporated in thin air...)