Thursday, January 31, 2013

Option Open Interest for 31-01-2013

Inference
Expiry today was a dud, with Nifty in a very small range of just 33 points and not much of volatility. The index opened flat and stayed weak throughout the entire session of trade to close at 6034.75 a small loss of 21.00 points. On a month on month the index gained around 2.2%. The broader market remained weak, with 679 advances to 801 declines. The OI Table at the start of series hints at resistance developing at 6200 level.
  • Call option 6000-6200, 6400 added 19.25 lacs huge amount of OI with small addition seen at lower strike prices.
  • Put Option 6400-5500 added 45.37 lacs huge amount of OI.
  • Highest accumulation on Call option 6200 at 43.2 lacs & 6100 at 31.7 lacs whereas Put option 6000 at 34.6 lacs & 5800 at 32.7 lacs.
  • Nifty Open Interest is at 1,20,29,000 up by 29,04,700, mostly rollover with small decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 10,51,475, up by 2,98,325, mostly rollover with decrease in price, most probably huge short build-up.
  • FII’s sold huge 8.20 lacs of Futures, most probably long liquidation, as their net OI decreased by 113531 contract and the average price per contract comes to around 6102.
  • FII’s future open contract as on date is 236419.
  • PCR Open Interest (Volume) at start of series is just above 1 at 1.010.
  • Support building up at 6000PE, with OI above 34.6 lacs and below that at 5800 with OI of 32.7 lacs.
  • Initial resistance at 6100CE, with OI above 31.7 lacs, and above that at 6200 with highest OI in Option Table at 43.2 lacs.
  • Range as per Option Table is 5999 - 6078 and as per VIX is 5990 - 6079 with 6045 as the Pivot.
Option Call for 01-02-2013
Buy Nifty 6100CE above 88 for targets of 93, 100 SL - 84
Buy Nifty 6000PE above 60 for targets of 65, 71 SL - 56

India VIX : 14.13 down by 0.25 points
Call OI : 19375950
Put OI : 19571850
PCR OI : 1.010
SMR : 13.99 (Bearish to Neutral: Start of the series saw huge addition at most of the strike prices, with initial range developing around 5800-6200 for the time being...)