Friday, January 25, 2013

Option Open Interest for 25-01-2013

Inference
Nifty opened flat, and after a small dip it was one way drive towards the highs of the day around 6080. The index ultimately settled at 6074.65, a good gain of 55.30 points. On a week on week basis the index gained 0.2%, the highest weekly closing in more than 2 yrs. The broader market also was good, with 925 advances to 585 declines. The OI Table saw a complete turn-around with PE writers back in business with huge addition at 6000-6100 levels.
  • Call option 6400 added 0.95 lacs huge amount of OI with huge short covering at 6100 and below strike prices.
  • Put Option 6100-6000 added 24.15 lacs huge amount of OI with profit booking seen at 5800 and below strike prices.
  • Highest accumulation on Call option 6200 at 95.0 lacs & 6100 at 67.1 lacs whereas Put option 6000 at 85.6 lacs & 5800 at 80.9 lacs.
  • Nifty Open Interest is at 1,15,66,450 down by 7,26,050, whereas Feb series added 11.66 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 10,17,150, up by 59,450, whereas Feb series added 34,500 with increase in price, most probably long build-up.
  • FII’s sold 4.79 lacs of Futures, most probably short build-up, as their net OI increased by 24218 contract and the average price per contract comes to around 6039.
  • FII’s future open contract as on date is 262154.
  • PCR Open Interest (Volume) is back to 1.429.
  • Support back at 6000PE with huge addition for the day at 17.7 lacs and below that at 5900 with OI above 78.1 lacs.
  • Small Resistance at 6100CE, with OI of 67.1 lacs, and above that at 6200 with highest OI of 95.0 lacs.
  • Range as per Option Table is 6020 - 6102 and as per VIX is 6028 - 6122 with 6065 as the Pivot.
Option Call for 28-01-2013
Buy Nifty 6000CE above 88 for targets of 101, 117 SL - 78
Buy Nifty 6100PE above 68 for targets of 84, 114 SL - 64

India VIX : 14.77 up by 0.31
Call OI : 31433750
Put OI : 44903250
PCR OI : 1.429
SMR : 10.34 (Bullish: Bulls are having this uncanny habit of coming back when it matters most, and the Bears are getting trapped. Can the Bears pull it back or they go in oblivion, Tuesday could give us the answer...)