Monday, November 11, 2013

Option Open Interest for 11-11-2013

Inference
Nifty opened weak, and after making a low around 6085 level tried to move higher above the previous day’s close, but was sold off to day’s low at 6068, but closed just above at 6078.80, still a huge loss of 61.95 points. The broader market was also weak, with 473 advances to 882 declines. Best resistance as per OI table is placed at 6300 level with OI now above 51.6 lacs.
  • Call option 6000-6600 added 29.24 lacs huge amount of OI with profit booking seen at 6700 and above strike prices.
  • Put option 6000-5600 added 8.39 lacs huge amount of OI with short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 1,95,85,450 down by 7,48,500, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 16,05,375 down by 25,375, with decrease in price, most probably huge long liquidation.
  • FII’s sold huge 8.64 lacs Futures, mostly long liquidation, as their net OI decreased by 26620 contracts (includes 67221 longs and 84491 shorts for the day) and the average price per contract comes to around 6046.32.
  • FII’s future open contract as on date is 471217.
  • PCR Open Interest (Volume) is down to the lowest of the series at 1.107.
  • Initial support still at 6100, with huge OI of 36.40 lacs, below that at 6000, with huge OI of 45.71 lacs.
  • Resistance at 6200, with huge addition for the day at 12.64 lacs and above that at 6300, with highest OI of 51.63 lacs.
  • Day Range as per Option Table is 6038 - 6153 and as per VIX is 6015 - 6142 with 6096 as the Pivot.
Option Call for 12-11-2013
Buy Nifty 6200CE above 67 for targets of 80, 100 SL - 63
Buy Nifty 6100PE above 82 for targets of 93, 103 SL - 76

India VIX : 19.98, up by 0.34 points
Call OI : 29198650
Put OI : 32309050
PCR OI : 1.107
SMR : 18.06 (Bearish: Bears seem to have taken a vice like grip of the Option Table, with only redeeming factor for the Bulls is that they have still not given up hope at 6100 level, Can we have bounce tomorrow...)