Tuesday, October 29, 2013

Option Open Interest for 29-10-2013

Nifty opened flat, and stayed in a narrow range for the first 2 hours of trade but reacted positively to RBI move which was on expected lines to rally about 150 points from the lows to close the day at 6220.90, a huge gain of 119.80 points. The broader market was positive, with 757 advances to 584 declines. As per OI table the range till expiry moved up a bit at 6100-6280.
  • Call option 6300 added 4.44 lacs huge amount of OI with huge short covering seen at 6200 and lower strike prices.
  • Put option 6300-6000 added 46.50 lacs huge amount of OI with profit booking seen at 5900 and lower strike prices.
  • Nifty Open Interest is at 1,28,23,500 down by 13,04,700, whereas Nov Series added huge 53.15 lacs OI, with increase in price, most probably 100% roll-over with huge long build-up.
  • Bank Nifty Open Interest is at 16,02,575 up by 45,275, whereas Nov Series also added 4.30 lacs with increase in price, most probably huge long build-up.
  • FII’s bought huge 17.38 lacs Futures, mostly long build-up, as their net OI increased by 95351 contracts (includes 284061 longs and 249302 shorts) and the average price per contract comes to around 6179.95.
  • FII’s future open contract as on date is 641271.
  • PCR Open Interest (Volume) has jumped to highest point of the series at 1.663.
  • Initial support right now at 6200, with huge addition for the day at 17.53 lacs, below that at 6100, with huge OI of 63.17 lacs.
  • Best Resistance at 6300, with OI of 68.72 lacs.
  • Day Range as per Option Table is 6121 - 6256 and as per VIX is 6157 - 6285 with 6176 as the Pivot.
Option Call for 30-10-2013
Buy Nifty 6200CE above 53 for targets of 71, 90 SL - 41
Buy Nifty 6200PE above 59 for targets of 85, 122 SL - 54

India VIX : 19.76 down by 1.53 points
Call OI : 31674150
Put OI : 52685350
PCR OI : 1.663
SMR : 11.88 (Bullish: Nifty celebrated Diwali a few days in advance as the central bank went as per expectation on increasing repo rate by 25 basis points and reduced marginal standing facility. The PE writers added a whopping 46.50 lacs at 6300-6000 level...)