Thursday, September 19, 2013

Option Open Interest for 19-08-2013

Inference
Nifty opened huge gap-up on Fed move of no tapering for the time being and rallied higher and higher with each passing hour to the highs of the day at 6142. A small profit booking towards the end of the day saw the index close at 6115.55, a huge-huge gain of 216.10 points, a second 200 pointer in this month for the Bulls. The broader was also very positive, with 911 advances to 434 declines. The Option Table right now is in full control of the Bulls.
  • Call option 6200-6500 added 19.71 lacs huge amount of OI with short covering seen at 6100 and below strike price.
  • Put option 6200-5900 added 63.74 lacs huge amount of OI with profit booking seen at 5800 and below strike prices.
  • Nifty Open Interest is at 1,62,04,200 up by 5,42,600, whereas October series added 13.59 lacs, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 18,51,525 down by 1,55,650, with huge increase in price, most probably huge short covering.
  • FII’s bought huge 49.90 lacs Futures, mostly long build-up, as their net OI increased by 60902 contracts (includes 196750 longs and 96948 shorts) and the average price per contract comes to around 6073.36.
  • FII’s future open contract as on date is 513513.
  • PCR Open Interest (Volume) has moved up at 1.691.
  • Initial support has jumped up at 6100, with huge addition for the day at 28.69 lacs, below that at 6000, with huge OI of 41.94 lacs.
  • Best resistance is now at 6200, with huge OI of 41.40 lacs and above that at 6300 with OI of 36.85 lacs.
  • Day Range as per Option Table is 6007 - 6201 and as per VIX is 6037 - 6194 with 6099 as the Pivot.
Option Call for 20-08-2013
Buy Nifty 6100CE above 104 for targets of 130, 157 SL - 97
Buy Nifty 6100PE above 74 for targets of 96, 132 SL - 69

India VIX : 24.50 down by huge 3.19 points
Call OI : 36852950
Put OI : 62304900
PCR OI : 1.691
SMR : 18.30 (Bullish: Bulls had a BENTASTIC day with a close above 6100 in more than 4 months and are in sight of new highs for the year; Bears for the time being can WAIT...)