Tuesday, October 22, 2013

Option Open Interest for 22-10-2013

Nifty opened just weak and stayed in a narrow range of 38 points keeping previous days close as the pivot. The index ultimately closed flat at 6202.80, a very small loss of 2.15 points. The broader market though was strong, with 894 advances to 492 declines. As per OI table 6100 level is the support till expiry.
  • Call option 6400-6500 added 3.81 lacs huge amount of OI with short covering seen at 6100 and below strike prices.
  • Put option 6300-6100 added 10.75 lacs huge amount of OI with profit booking seen at 6000 and below strike prices.
  • Nifty Open Interest is at 1,82,86,300 down by 2,17,250, whereas Nov Series added 6.23 lacs OI, with no change in price, most probably 100% roll-over with huge long build-up in next series.
  • Bank Nifty Open Interest is at 18,42,700 up by 34,150, whereas Nov Series added 23.6 thousand with increase in price, most probably huge long build-up in both series.
  • FII’s bought 1.51 lacs Futures, mostly long build-up, as their net OI increased by 14306 contracts (includes 59465 longs and 56439 shorts) and the average price per contract comes to around 6127.74.
  • FII’s future open contract as on date is 500802.
  • PCR Open Interest (Volume) has gone down a bit to 1.573, due to huge profit booking at 6000 and below PE level.
  • Initial support got better at 6100, with highest OI of 60.48 lacs, below that at 6000, with huge OI of 47.78 lacs.
  • Best Resistance still at 6300, with OI of 48.99 lacs, above that at 6400 with OI of 44.40 lacs.
  • Day Range as per Option Table is 6139 - 6265 and as per VIX is 6138 - 6268 with 6202 as the Pivot.
Option Call for 23-10-2013
Buy Nifty 6200CE above 82 for targets of 94, 107 SL - 78
Buy Nifty 6300PE above 123 for targets of 138, 164 SL - 118

India VIX : 19.96, down by 0.22 points
Call OI : 33712950
Put OI : 53040250
PCR OI : 1.573
SMR : 12.69 (Bullish: Bulls seems to be in a hurry to move the index up as corrections are very shallow and in intra-day with 6100PE now having the highest OI, all this points to a new high all time high in the next few days...)