Thursday, October 24, 2013

Option Open Interest for 24-10-2013

Inference
Nifty opened weak but saw the buyer take control and within the first hour of trade the index went on to touch the highs of the day around 6252 level. The Seller who are sitting pretty at higher levels got busy to move the index to lower end at 6142 but closed just above at 6164.35, a small loss of 14.00 points. The broader market was weak, with 591 advances to 756 declines. As per OI table 6300CE level now has the highest OI of 60 lacs.
  • Call option 6200-6500 added 10.01 lacs huge amount of OI with short covering seen at 6100 and below strike prices.
  • Put option 6300, 6000 added 2.23 lacs huge amount of OI with short covering seen at 6100-6200 strike prices.
  • Nifty Open Interest is at 1,72,35,350 down by 3,47,800, whereas Nov Series added 9.20 lacs OI, with small decrease in price, most probably roll-over with huge short build-up.
  • Bank Nifty Open Interest is at 18,27,900 down by 30,600, whereas Nov Series added 60.9 thousand with small increase in price, most probably roll-over with long build-up.
  • FII’s sold 1.15 lacs Futures, mostly short build-up, as their net OI increased by 13936 contracts (includes 97830 longs and 100132 shorts) and the average price per contract comes to around 6097.52.
  • FII’s future open contract as on date is 527749.
  • PCR Open Interest (Volume) has dipped below 1.5 and now at 1.498.
  • Initial support still at 6100, though covered a few more but OI still above 50.72 lacs, below that at 6000, with huge OI of 57.45 lacs.
  • Initial Resistance still at 6200, with OI of 45.79 lacs, above that at 6300 with highest OI of 60.03 lacs.
  • Day Range as per Option Table is 6116 - 6247 and as per VIX is 6098 - 6231 with 6187 as the Pivot.
Option Call for 25-10-2013
Buy Nifty 6200CE above 64 for targets of 88, 118 SL - 59
Buy Nifty 6200PE above 75 for targets of 98, 120 SL - 68

India VIX : 20.64, up by 0.29 points
Call OI : 33961000
Put OI : 50885850
PCR OI : 1.498
SMR : 12.69 (Neutral: Weakness for the first time showed up in the Option Table with 6100PE writers covering, higher levels are firmly in control of the Bears as the index is unable to sustain beyond 6200 level...)