Sunday, November 24, 2013

Option Open Interest for 22-11-2013

Inference
Nifty opened strong above the psychological level of 6000 and stayed in the positive till the last hour of trade, but a sell-off saw the index close weak 5995.45, a miniscule loss of 3.60 points. On a week-on-week basis the index lost 60.70 points or approx 1.00%. The broader market was also weak, with 603 advances to 738 declines. Best resistance now down to 6200 level.
  • Call option 5900-6300 added 23.09 lacs huge amount of OI with profit booking seen at 6400 and above strike prices.
  • Put option 6000-5800 added 5.13 lacs huge amount of OI with short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,38,38,650 down by 14,23,900, whereas Dec Series added 15.90 lacs with decrease in price, most probably 100% rollover with some short build-up.
  • Bank Nifty Open Interest is at 17,05,525 down by 1,04,275, whereas Dec Series added 0.36 lacs with decrease in price, most probably roll-over with huge long liquidation.
  • FII’s bought small 0.60 lacs Futures, mostly long build-up, as their net OI increased by 25261 contracts (includes 83047 longs and 81848 shorts for the day) and the average price per contract comes to around 5957.90.
  • FII’s future open contract as on date is 516584.
  • PCR Open Interest (Volume) making a new low 0.806.
  • Initial and best support still at 6000, with huge OI of 59.50 lacs and below that at 5900 with OI of 47.15 lacs.
  • Initial resistance getting stronger at 6100, with OI of 57.02 lacs and above that at 6200, with huge OI of 60.66 lacs.
  • Day Range as per Option Table is 5938 - 6068 and as per VIX is 5933 - 6058 with 6006 as the Pivot.
Option Call for 25-11-2013
Buy Nifty 6000CE above 66 for targets of 88, 119 SL - 61
Buy Nifty 6100PE above 106 for targets of 122, 154 SL - 99

India VIX : 20.04, down by 1.10 points
Call OI : 39372150
Put OI : 31714350
PCR OI : 0.806
SMR : 24.88 (Bearish: The CE writers have taken a vice like grip on the Option table with 6200 for the time being looks impossible for the bulls to scale this series, a corrective rally though may be seen...)