Tuesday, November 19, 2013

Option Open Interest for 19-11-2013

Inference
Nifty opened flat and oscillated within a narrow range of 32 points for the entire day and closed just positive at 6203.35, a small gain of 14.35 points. The broader market was just positive, with 694 advances to 678 declines. Best support at 6000 level.
  • Call option 6300, 6500 added 8.73 lacs huge amount of OI with short covering seen at 6200 and lower strike prices.
  • Put option 6300-6000 added 21.26 lacs huge amount of OI with profit booking seen at 5900 and lower strike prices.
  • Nifty Open Interest is at 1,77,98,550 up by 2,05,400, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 16,40,200 up by 3,900, with increase in price, most probably small long build-up.
  • FII’s bought huge 1.15 lacs Futures, mostly long build-up, as their net OI increased by 18512 contracts (includes 43430 longs and 41132 shorts for the day) and the average price per contract comes to around 6171.37.
  • FII’s future open contract as on date is 487890.
  • PCR Open Interest (Volume) is at 1.136.
  • Initial support now at 6200, with huge addition for the day at 13.61 lacs and below that at 6100 with OI of 46.69 lacs.
  • Initial resistance still at 6300, with OI of 51.47 lacs and above that at 6400, with OI of 49.47 lacs.
  • Day Range as per Option Table is 6139 - 6262 and as per VIX is 6141 - 6266 with 6199 as the Pivot.
Option Call for 20-11-2013
Buy Nifty 6200CE above 78 for targets of 86, 95 SL - 72
Buy Nifty 6200PE above 50 for targets of 56, 73 SL - 45

India VIX : 19.30 up by 0.48 points
Call OI : 32202950
Put OI : 36574250
PCR OI : 1.136
SMR : 16.99 (Bullish: Nifty had a perfect consolidation day after 2 days of huge gap-up, with 6200PE writers adding huge, Bulls for the time being are in Drivers seat...)