Sunday, October 20, 2013

Option Open Interest for 18-10-2013

Inference
Nifty opened positive on the back of good global cues and did not look back to scale resistance after resistance with each passing hour. The index scaled 6200 level after 5 months but closed just lower at 6189.35, a gigantic gain of 143.50 points. The broader market was strong, with 806 advances to 542 declines. As per OI table base has been established at 6000 level.
  • Call option 6300-6400 added 7.17 lacs huge amount of OI with short covering seen at 6200 and below strike prices.
  • Put option 6300-6000 added 39.63 lacs huge amount of OI with profit booking seen at 5900 and below strike prices.
  • Nifty Open Interest is at 1,88,14,800 down by 4,17,300, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 18,79,300 up by 78,475, with increase in price, most probably huge long build-up.
  • FII’s bought huge 11.28 lacs Futures, mostly short covering, as their net OI decreased by 24885 contracts (includes 109205 longs and 86642 shorts) and the average price per contract comes to around 6106.76.
  • FII’s future open contract as on date is 479717.
  • PCR Open Interest (Volume) is at 1.561, the highest of the series.
  • Initial support now placed at 6100, with OI above 45.76 lacs, below that at 6000, with huge OI of 59.79 lacs.
  • Initial and best Resistance at 6300, with OI of just 47.52 lacs, above that at 6400 with OI of 41.24 lacs.
  • Day Range as per Option Table is 6091 - 6235 and as per VIX is 6124 - 6255 with 6154 as the Pivot.
Option Call for 21-10-2013
Buy Nifty 6200CE above 84 for targets of 100, 125 SL - 69
Buy Nifty 6200PE above 99 for targets of 124, 156 SL - 94

India VIX : 20.12, down by 0.94 points
Call OI : 33999600
Put OI : 53073950
PCR OI : 1.561
SMR : 12.89 (Bullish: Bulls came back with huge force to ground the Bears and captured 6100 level with ease, and now the scene has shifted towards 6200 level with small advantage to the CE writers, Time to be cautious at higher levels...)