Wednesday, November 6, 2013

Option Open Interest for 06-11-2013

Inference
Nifty opened flat to positive, and after staying in a smallish range for the first 2 hrs, started its downward journey and closed near the lows of the day at 6215.15, a huge loss of 38.00 points. The broader market though was positive, with 713 advances to 635 declines. OI table resistance is now getting better around 6300-6400 level.
  • Call option 6300-6600 added 7.60 lacs huge amount of OI with profit booking seen at 6700 and above strike prices.
  • Put option 6100-5700 added 9.02 lacs huge amount of OI with short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 2,15,88,050 down by 8,87,650, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 17,73,500 down by 6,925, with decrease in price, most probably small long liquidation.
  • FII’s sold huge 15.17 lacs Futures, mostly long liquidation, as their net OI decreased by 2427 contracts (includes 48459 longs and 78795 shorts for the day) and the average price per contract comes to around 6190.67.
  • FII’s future open contract as on date is 508134.
  • PCR Open Interest (Volume) is comfortably placed at 1.320.
  • Support still at 6200, with huge OI of 38.18 lacs, below that at 6100, with OI of 37.01 lacs.
  • Resistance getting better at 6300, with OI now above 38.06 lacs and above that at 6400, with OI of 39.14 lacs.
  • Day Range as per Option Table is 6175 - 6279 and as per VIX is 6149 - 6281 with 6231 as the Pivot.
Option Call for 07-11-2013
Buy Nifty 6300CE above 96 for targets of 105, 121 SL - 90
Buy Nifty 6300PE above 129 for targets of 138, 148 SL - 122

India VIX : 20.25 up by 0.31 points
Call OI : 24392150
Put OI : 32199550
PCR OI : 1.320
SMR : 15.34 (Neutral to Bearish: After making a high on Mahurat Trading day, it's steady downhill for the index but not much addition seen at 6200CE level, Seller need to start adding at 6200CE or else we can see a bounce back in the next couple of days...)