Wednesday, January 9, 2013

Option Open Interest for 09-01-2013

Inference
Nifty opened positive and went on to touch the highs of the day at 6020, but the sellers got active around that level to push the index below the previous day’s close at 5960, and closed marginally up at 5971.50 a good loss of 30.20 points. The broader market was also weak, with 601 advances to 922 declines. The OI Table saw huge addition from 6000-6300CE levels with 6100CE now looking like good enough resistance for the series.
  • Call option 6000-6300 added 15.37 lacs huge amount of OI with some short covering seen at 5900 and below strike prices.
  • Put Option 5900-5800 added 2.82 lacs huge amount of OI with short covering seen at 6000 and above levels.
  • Highest accumulation on Call option 6200 at 83.9 lacs & 6100 at 63.9 lacs whereas Put option 5800 at 71.5 lacs & 5900 at 65.8 lacs.
  • Nifty Open Interest is at 1,55,06,050 down by 1,89,400, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 10,95,050 up by 425, with small decrease in price, most probably small short build-up.
  • FII’s sold small 0.61 lacs of Futures, most probably short build-up, as their net OI increased by 4551 contract and the average price per contract comes to around 6004.
  • FII’s future open contract as on date is 250490.
  • PCR Open Interest (Volume) is exactly at 1.200.
  • Support still very good at 5900PE with OI above 65.8 lacs and below that at 5800 with OI of 71.5 lacs.
  • Resistance at 6100CE, with OI above 63.9 lacs, and above that at 6200 with highest OI of 83.9 lacs.
  • Range as per Option Table is 5941 - 6022 and as per VIX is 5930 - 6013 with 5985 as the Pivot.
Option Call for 10-01-2013
Buy Nifty 6000CE above 75 for targets of 91, 113 SL - 71
Buy Nifty 6000PE above 70 for targets of 81, 93 SL - 66

India VIX : 13.32 up by 0.05
Call OI : 34297350
Put OI : 41161800
PCR OI : 1.200
SMR : 11.10 (Neutral: For the first in the series, the Bears seems to like dominating the proceedings, but still need a good follow-up action to stamp their authority or else Bulls will be back stronger...)