Tuesday, January 29, 2013

Option Open Interest for 29-01-2013

Inference
Nifty opened flat to negative, and moved up above 6100 on the back of positive monetary policy in the form of both Repo and CRR cut of 25 bps, but it seemed market participant were waiting to book out in a hurry, which saw the index close the day at 6049.90, a small loss of 24.90 points. The broader market was also disappointing, with 528 advances to 967 declines. The OI Table saw huge addition at 6100-6200CE level, with 6200CE OI above 1.28 crore.
  • Call option 6100-6300 added 51.03 lacs huge amount of OI with huge short covering at 6000 and below strike prices.
  • Put Option 5900 added 5.40 lacs huge amount of OI with huge short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6200 at 1.28 crore & 6100 at 82.8 lacs whereas Put option 6000 at 83.2 lacs & 5900 at 82.6 lacs.
  • Nifty Open Interest is at 95,08,900 down by 13,66,100, whereas Feb series added 21.19 lacs with decrease in price, most probably 100% rollover with short build-up.
  • Bank Nifty Open Interest is at 7,89,750, down by 1,46,750, whereas Feb series added 2.19 lacs with decrease in price, most probably 100% rollover with short build-up.
  • FII’s bought huge 10.42 lacs of Futures, most probably long build-up, as their net OI increased by 43075 contract and the average price per contract comes to around 6032.
  • FII’s future open contract as on date is 305229.
  • PCR Open Interest (Volume) has gone down to 1.234 due to huge addition at 6100-6200CE levels.
  • Support still very much at 6000PE, though covered a few for the day and below that at 5900 with OI above 82.6 lacs.
  • Huge Resistance right now at 6100CE, with OI above 82.8 lacs, and above that at 6200 with highest OI in Option Table at 1.28 crore.
  • Range as per Option Table is 6023 - 6104 and as per VIX is 6004 - 6096 with 6055 as the Pivot.
Option Call for 30-01-2013
Buy Nifty 6000CE above 78 for targets of 101, 127 SL - 74
Buy Nifty 6100PE above 60 for targets of 76, 91 SL - 49

India VIX : 14.47 down by 0.70 points
Call OI : 35218900
Put OI : 43467700
PCR OI : 1.234
SMR : 11.72 (Bearish to Neutral: RBI Governor did exactly as the market participant thought off, to see a new high, but the Bears were just waiting for it, and moved the index back below 6050. With two days to Expiry, 6000-6100 level is range...)