Friday, January 18, 2013

Option Open Interest for 17-01-2013

Inference
Nifty opened flat, but gained momentum on the upside with each passing hour to close strong at 6039.20 a good gain of 37.35. The broader market did not perform as well, with 681 advances to 825 declines. The OI Table saw a complete turnaround from yesterday with huge addition at 6000PE and liquidation seen throughout CE levels.
  • Call option 6300 added 0.61 lacs huge amount of OI with huge short covering seen at 6000 and lowere strike prices.
  • Put Option 6100-5800 added 26.46 lacs huge amount of OI with small profit booking seen at 5700 and bolow strike prices.
  • Highest accumulation on Call option 6200 at 82.7 lacs & 6100 at 59.0 lacs whereas Put option 5900 at 83.3 lacs & 5800 at 81.0 lacs.
  • Nifty Open Interest is at 1,45,44,250 up by 13,050, with increase in price, most probably small long build-up.
  • Bank Nifty Open Interest is at 9,66,375 down by 67,850, with small increase in price, most probably huge long liquidation.
  • FII’s bought 1.27 lacs of Futures, most probably short covering, as their net OI decreased by 8822 contract and the average price per contract comes to around 6030.
  • FII’s future open contract as on date is 239653.
  • PCR Open Interest (Volume) is back to 1.409 due to huge liquidation seen at most CE strikes.
  • Support got better at 6000PE with huge addition of 14.1 lacs for the day and below that at 5900 with highest OI of 83.3 lacs.
  • Resistance still at 6100CE, though huge liquidation was seen, and above that at 6200 with huge OI of 82.7 lacs.
  • Range as per Option Table is 5985 - 6074 and as per VIX is 5995 - 6083 with 6030 as the Pivot.
Option Call for 18-01-2013
Buy Nifty 6000CE above 89 for targets of 100, 122 SL - 82
Buy Nifty 6000PE above 44 for targets of 54, 70 SL - 40

India VIX : 14.01 up by 0.02
Call OI : 32166050
Put OI : 45332600
PCR OI : 1.409
SMR : 9.94 (Bullish: Bulls showed that they were never out but was just taking a breather yesterday, to come back strong and just rolled over the running Bears. SMR again below 10, better to book profit in longs or suitably hedge position...)