Tuesday, January 15, 2013

Option Open Interest for 15-01-2013

Inference
Nifty opened flat to positive and stayed in a narrow range for the better part of the first half, but saw huge buying when a dip came just below the previous day’s close to move to the highs around 6070, but closed just below at 6056.60, still a huge gain of 32.55 points. The broader market was flat, with 748 advances to 753 declines. The OI Table saw huge addition at 6000PE, which is now turning out to be quite a good support.
  • Call option 6300-6400 added 10.02 lacs huge amount of OI with huge short covering seen at 6100 and below strike prices.
  • Put Option 6200, 6000-5800 added 16.18 lacs huge amount of OI with huge profit booking seen at 5700 and below strike prices.
  • Highest accumulation on Call option 6200 at 84.6 lacs & 6300 at 56.1 lacs whereas Put option 5900 at 81.8 lacs & 5800 at 73.5 lacs.
  • Nifty Open Interest is at 1,55,02,400 down by 4,36,450, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 11,85,950 up by 59,600, with increase in price, most probably huge long build-up.
  • FII’s sold 1.63 lacs of Futures, most probably long liquidation, as their net OI decreased by 9254 contract and the average price per contract comes to around 6100.
  • FII’s future open contract as on date is 253138.
  • PCR Open Interest (Volume) is galloping and now at 1.359.
  • Support at 6000PE with huge addition for the day at 13.6 lacs and below that at 5900 with OI of 81.8 lacs.
  • Resistance at 6100CE, though got weak due to huge huge short covering, and above that at 6200 with huge OI of 84.6 lacs.
  • Range as per Option Table is 6008 - 6093 and as per VIX is 6014 - 6100 with 6040 as the Pivot.
Option Call for 16-01-2013
Buy Nifty 6000CE above 109 for targets of 125, 142 SL - 103
Buy Nifty 6100PE above 77 for targets of 90, 109 SL - 73

India VIX : 13.58 down by 0.12
Call OI : 32502150
Put OI : 44170900
PCR OI : 1.359
SMR : 9.99 (Bullish: SMR has gone below 10, need to be cautious with longs, but Bulls have secured 6000 level for the time being. Make hay while the sun shines...)

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