Tuesday, January 22, 2013

Option Open Interest for 22-01-2013

Inference
Nifty opened flat, and made a dash towards 6100 to see huge profit booking and the index hurtled down below 6050 to close around the lows of the day at 6048.50, a loss of 33.80 points. The broader market was also very weak with 424 advances to 1103 declines. The OI Table saw huge un-winding at most of the PE levels.
  • Call option 6000-6200 added 15.58 lacs huge amount of OI with huge profit booking seen at 6300 strike price.
  • Not much addition seen at any Put strike with huge short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6200 at 89.4 lacs & 6100 at 71.1 lacs whereas Put option 6000 at 88.0 lacs & 5900 at 80.3 lacs.
  • Nifty Open Interest is at 1,38,23,750 down by 8,92,350, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 10,31,850, up by 15,975, with decrease in price, most probably short build-up.
  • FII’s sold 0.57 lacs of Futures, most probably long liquidation, as their net OI decreased by 3610 contract and the average price per contract comes to around 6035.
  • FII’s future open contract as on date is 251386.
  • PCR Open Interest (Volume) has gone down to 1.418.
  • Support still very good at 6000PE with OI of 88 lacs and below that at 5900 with OI above 80.3 lacs.
  • Resistance got better at 6100CE, with huge addition of 6.8 lacs for the day, and above that at 6200 with highest OI of 89.4 lacs.
  • Range as per Option Table is 6019 - 6101 and as per VIX is 6005 - 6092 with 6055 as the Pivot.
Option Call for 23-01-2013
Buy Nifty 6000CE above 92 for targets of 107, 133 SL - 89
Buy Nifty 6100PE above 64 for targets of 75, 86 SL - 58

India VIX : 13.89 up by 0.23 points
Call OI : 32259900
Put OI : 45738000
PCR OI : 1.418
SMR : 9.80 (Neutral: You were CAUTIONED. Huge liquidation seen in Nifty, but not much shorts added is the only redeeming feature of the day...)