Wednesday, January 23, 2013

Option Open Interest for 23-01-2013



Inference
Nifty opened flat to positive, and traded within a small range for the first half. The index saw a dip towards 6020 level, where the responsive buyers took control to move the index above the previous day’s close to 6054.30 a smallish gain of 5.80 points. Again the broader market was very weak with just 419 advances to 1101 declines. The OI Table saw huge profit booking in both CE and PE levels with not much of an addition.
  • Call option 6200 added 2.78 lacs huge amount of OI with short covering seen at 6000 and below strike price.
  • Put Option 5900 added 3.83 lacs huge amount of OI with short covering seen at 6100 and above strike prices.
  • Highest accumulation on Call option 6200 at 92.2 lacs & 6100 at 70.4 lacs whereas Put option 5900 at 84.1 lacs & 6000 at 83.1 lacs.
  • Nifty Open Interest is at 1,32,23,750 down by 6,00,000, with small increase in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 9,56,550, down by 75,300, with increase in price, most probably short covering.
  • FII’s sold 5.03 lacs of Futures, most probably long liquidation, as their net OI decreased by 2085 contract and the average price per contract comes to around 6045.
  • FII’s future open contract as on date is 249301.
  • PCR Open Interest (Volume) is at 1.424.
  • Support still at 6000PE with OI of 83.1 lacs and below that at 5900 with OI above 84 lacs.
  • Resistance still at 6100CE, with huge OI of 70 lacs, and above that at 6200 with highest OI of 92.2 lacs.
  • Range as per Option Table is 6009 - 6091 and as per VIX is 6011 - 6098 with 6060 as the Pivot.
Option Call for 24-01-2013
Buy Nifty 6000CE above 83 for targets of 97, 111 SL - 78
Buy Nifty 6100PE above 66 for targets of 80, 100 SL - 63

India VIX : 13.67 down by 0.22
Call OI : 31750100
Put OI : 45214400
PCR OI : 1.424
SMR : 9.60 (Bullish to Neutral: Nifty Future OI at just 1.3 Crore, the lowest of the series, going down is not an option right now...)