Thursday, October 17, 2013

Option Open Interest for 17-10-2013

Inference
Nifty opened flat and stayed within a very narrow range for the better part of the morning session but saw the sellers take control in the second half to close the index at the lowest point of the day at 6045.85, a huge loss of 43.20 points. The broader market was also weak, with 643 advances to 704 declines. Support at 6000 and huge resistance at 6200 level.
  • Call option 6200, 6400 added 9.20 lacs huge amount of OI with short covering seen at 6100 and below strike prices.
  • Put option 6000-5500 added 19.51 lacs huge amount of OI with short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,92,32,100 up by 71,200, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 18,00,825 up by 36,700, with decrease in price, most probably short build-up.
  • FII’s bought huge 2.53 lacs Futures, mostly long build-up, as their net OI increased by 18311 contracts (includes 61166 longs and 56111 shorts) and the average price per contract comes to around 5968.64.
  • FII’s future open contract as on date is 504602.
  • PCR Open Interest (Volume) has increased around the high point of the series at 1.398.
  • Initial support got better at 6000, with OI now above 58.15 lacs, below that at 5900, with huge OI of 48.28 lacs.
  • Initial Resistance at 6100, with OI of just 36.17 lacs, above that at 6200 with huge OI of 50.53 lacs.
  • Day Range as per Option Table is 5992 - 6124 and as per VIX is 5979 - 6112 with 6063 as the Pivot.
Option Call for 18-10-2013
Buy Nifty 6100CE above 86 for targets of 102, 131 SL - 79
Buy Nifty 6000PE above 64 for targets of 74, 85 SL - 59

India VIX : 21.06 down by 2.18 points
Call OI : 36054200
Put OI : 50397800
PCR OI : 1.398
SMR : 15.07 (Bullish to Neutral: Though the index closed in RED, but not much damage was done to the Option table with Bulls holding onto 6000 level with ease and the Bears happy with huge addition at 6200CE. 6100 level is still open playing field...)