Thursday, November 21, 2013

Option Open Interest for 21-11-2013

Inference
Nifty opened weak below 6100 level and went lower with each passing hour to close near the lows of the day at 5999.05, a huge loss of 123.85 points. The broader market was also very weak, with just 417 advances to 947 declines. Best resistance at 6300 level.
  • Call option 6000-6200 added 49.25 lacs huge amount of OI with profit booking seen at 6400 and above strike prices.
  • Put option 6000-5900, 5700 added 18.16 lacs huge amount of OI with short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,52,62,550 down by 13,86,050, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 18,09,800 up by 1,12,125, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 19.62 lacs Futures, mostly short build-up, as their net OI increased by 2086 contracts (includes 90348 longs and 129582 shorts for the day) and the average price per contract comes to around 5953.91.
  • FII’s future open contract as on date is 491323.
  • PCR Open Interest (Volume) is at the lowest point of the series at 0.824.
  • Initial and best support at 6000, with huge OI of 57.40 lacs and below that at 5900 with OI of 44.64 lacs.
  • Initial resistance now at 6100, with OI of 50.53 lacs and above that at 6200, with huge OI of 55.00 lacs.
  • Day Range as per Option Table is 5953 - 6087 and as per VIX is 5933 - 6065 with 6027 as the Pivot.
Option Call for 22-11-2013
Buy Nifty 6000CE above 92 for targets of 119, 147 SL - 87
Buy Nifty 6100PE above 111 for targets of 136, 163 SL - 95

India VIX : 21.14 up by 0.31 points
Call OI : 38440200
Put OI : 31668600
PCR OI : 0.824
SMR : 25.66 (Bearish: Nifty saw huge liquidation for the second day in a row to close below 6000, with only positive for the Bulls, 6000PE writers holding on and SMR at 25.66...)