Monday, January 21, 2013

Option Open Interest for 21-01-2013

Inference
Nifty opened positive, and stayed in a very small range for the better part of the day, with a break-out seen towards the end of the day to move the index just a few points away from 6100. The index for the day closed at 6082.30, a small gain of 17.90 points. The broader market though is not going in tandem with Nifty, with 691 advances to 822 declines. The OI Table saw 6000PE open interest above 90 lacs for the first time in the series and now is a base till expiry.
  • Call option 6100 added 3.31 lacs huge amount of OI with huge short covering seen at 6000 and lower strike prices.
  • Put Option 6200-6000 added 23.90 lacs huge amount of OI with huge profit booking seen at 5900 and below strike prices.
  • Highest accumulation on Call option 6200 at 82.5 lacs & 6100 at 64.3 lacs whereas Put option 6000 at 90.2 lacs & 5900 at 80.9 lacs.
  • Nifty Open Interest is at 1,47,16,100 up by 1,55,800, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 10,15,875, up by 65,250, with small decrease in price, most probably short build-up.
  • FII’s sold 1.37 lacs of Futures, most probably short build-up, as their net OI increased by 6426 contract and the average price per contract comes to around 6066.
  • FII’s future open contract as on date is 254996.
  • PCR Open Interest (Volume) has moved above 1.5 and now at 1.510 due to huge addition at 6100-6000PE level.
  • Concrete Support now at 6000PE with highest OI of 90.2 lacs and below that at 5900 with OI above 80.9 lacs.
  • Resistance still at 6100CE, but may not hold, and above that at 6200 with huge OI of 82.5 lacs.
  • Range as per Option Table is 6040 - 6122 and as per VIX is 6039 - 6126 with 6065 as the Pivot.
Option Call for 22-01-2013
Buy Nifty 6100CE above 44 for targets of 51, 59 SL - 40
Buy Nifty 6100PE above 54 for targets of 62, 73 SL - 50

India VIX : 13.66 down by 0.23
Call OI : 31241750
Put OI : 47165500
PCR OI : 1.510
SMR : 9.05 (Bullish: Bulls are controlling the Option Table with 6000PE now having highest OI of 90 lacs and a base for the series. SMR below 10, stay cautious at higher levels...)