Wednesday, November 20, 2013

Option Open Interest for 20-11-2013

Inference
Nifty opened flat to negative and saw a small range for the first few hours of trade with negative bias. The last one hour of trade saw huge long unwinding to close around the lowest point at 6122.90, a huge loss of 80.45 points. The broader market though was just negative, with 647 advances to 707 declines. Best resistance now at 6300 level.
  • Call option 6100-6300 added 18.06 lacs huge amount of OI with profit booking seen at 6400 and above strike prices.
  • Put option 5900-5800 added 2.16 lacs huge amount of OI with short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,66,48,600 down by 11,49,950, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 16,97,675 up by 57,475, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 2.82 lacs Futures, mostly short build-up, as their net OI increased by 1347 contracts (includes 76244 longs and 81889 shorts for the day) and the average price per contract comes to around 6088.34.
  • FII’s future open contract as on date is 489237.
  • PCR Open Interest (Volume) is again down at 0.988.
  • Initial support still at 6100, though looks weak with OI of just 41.05 lacs and below that at 6000 with OI of 56.29 lacs.
  • Initial resistance now at 6200, with OI of 46.55 lacs and above that at 6300, with highest OI of 59.95 lacs.
  • Day Range as per Option Table is 6077 - 6201 and as per VIX is 6056 - 6190 with 6145 as the Pivot.
Option Call for 21-11-2013
Buy Nifty 6100CE above 106 for targets of 126, 158 SL - 99
Buy Nifty 6200PE above 87 for targets of 106, 133 SL - 77

India VIX : 20.83, up by 1.53 points
Call OI : 33492750
Put OI : 33089650
PCR OI : 0.988
SMR : 21.08 (Bearish: Huge liquidation in the dying minutes of trade saw the index crash towards 6100 level with PE writers covering en-mass, need a follow up action by the Sellers to be in control...)