Wednesday, November 13, 2013

Option Open Interest for 13-11-2013

Inference
Nifty opened negative, but saw a brief move towards the highs of the day around 6040 to be sold to the lows of the day around 5972, but closed just above at 5989.60, still a loss of 28.45 points. The broader market was also weak, with 463 advances to 861 declines. Resistance for the series has come down to 6200 level.
  • Call option 5900-6200 added 19.51 lacs huge amount of OI with profit booking seen at 6400 and above strike prices.
  • Put option 5900-5600 added 10.48 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Nifty Open Interest is at 1,89,22,450 down by 6,30,450, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 17,62,275 up by 37,400, with decrease in price, most probably short build-up.
  • FII’s sold huge 2.57 lacs Futures, mostly long liquidation, as their net OI decreased by 11113 contracts (includes 83434 longs and 88579 shorts for the day) and the average price per contract comes to around 5955.15.
  • FII’s future open contract as on date is 477611.
  • PCR Open Interest (Volume) for the first time in this series below 1 at 0.993.
  • Best support still at 6000, with huge OI of 49.28 lacs and below that at 5900 with OI of just 33.13 lacs.
  • Initial resistance at 6100, with OI now above 40.87 lacs and above that at 6200, with OI of 50.51 lacs.
  • Day Range as per Option Table is 5943 - 6062 and as per VIX is 5925 - 6054 with 6001 as the Pivot.
Option Call for 14-11-2013
Buy Nifty 6100CE above 65 for targets of 79, 98 SL - 59
Buy Nifty 6000PE above 77 for targets of 90, 104 SL - 71

India VIX : 20.45, down by 0.41 points
Call OI : 34121050
Put OI : 33888700
PCR OI : 0.993
SMR : 20.59 (Bearish: Bulls seem to have thrown in the towel as they are unable to make any dent on the Bear citadel with today being the eight continuous down day. SMR is still hovering above 20...)

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