Sunday, January 20, 2013

Option Open Interest for 18-01-2013

Inference
Nifty opened positive, and went on to touch new highs for the month around 6085, but profit booking saw the index close at 6064.40 still a good gain of 25.20. The broader market though performed badly, with 592 advances to 922 declines. The OI Table saw huge support building up around 6000PE level.
  • Call option 6100-6300 added 7.61 lacs huge amount of OI with huge short covering seen at 6000 and lower strike prices.
  • Put Option 6100-5900 added 11.07 lacs huge amount of OI with huge profit booking seen at 5800 and below strike prices.
  • Highest accumulation on Call option 6200 at 83.2 lacs & 6100 at 61.0 lacs whereas Put option 5900 at 83.7 lacs & 6000 at 79.8 lacs.
  • Nifty Open Interest is at 1,45,60,300 up by 16,050, with increase in price, most probably small long build-up.
  • Bank Nifty Open Interest is at 9,50,625 down by 15,750, with small increase in price, most probably short covering.
  • FII’s bought 3.71 lacs of Futures, most probably long build-up, as their net OI increased by 8917 contract and the average price per contract comes to around 6047.
  • FII’s future open contract as on date is 248570.
  • PCR Open Interest (Volume) is at 1.408.
  • Support getting better at 6000PE with OI now above 79.8 lacs and below that at 5900 with highest OI of 83.7 lacs.
  • Resistance still at 6100CE, but looking vulnerable with OI just at 61 lacs, and above that at 6200 with huge OI of 83.2 lacs.
  • Range as per Option Table is 6022 - 6107 and as per VIX is 6020 - 6108 with 6050 as the Pivot.
Option Call for 21-01-2013
Buy Nifty 6100CE above 44 for targets of 51, 60 SL - 40
Buy Nifty 6100PE above 72 for targets of 81, 95 SL - 68

India VIX : 13.89 down by 0.12 points
Call OI : 32316050
Put OI : 45497450
PCR OI : 1.408
SMR : 9.87 (Bullish: Bulls are very much control but near to the first resistance level as per OI and SMR below 10, better to book profit in longs or suitably hedge position...)