Monday, November 25, 2013

Option Open Interest for 25-11-2013

Inference
Nifty opened strong above 6035 and made a dash towards 6100 within the first hour of trade, but saw momentum waning in the mid-session and index saw a dip towards 6050. The index finally saw huge short covering to close strong at 6115.35, a huge gain of 119.90 points. The broader market was strong, with 864 advances to 491 declines. Super support is now at 6000 level.
  • No Call option added OI with short covering seen at 6100 and lower strike prices.
  • Put option 6200-5800 added 37.96 lacs huge amount of OI with profit booking seen at 5700 and lower strike prices.
  • Nifty Open Interest is at 1,22,97,450 down by 15,41,200, whereas Dec Series added 23.13 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 14,83,650 down by 2,21,875, whereas Dec Series added 1.45 lacs with increase in price, most probably roll-over with short covering in present series.
  • FII’s bought huge 8.78 lacs Futures, mostly long build-up, as their net OI increased by 9555 contracts (includes 140889 longs and 123324 shorts for the day) and the average price per contract comes to around 6096.75.
  • FII’s future open contract as on date is 526139.
  • PCR Open Interest (Volume) jumped up to 1.028.
  • Initial support back at 6100, with huge OI addition for the day at 21.85 lacs and below that at 6000 with highest OI of 71.81 lacs.
  • Initial and best resistance now at 6200, with OI of 57.49 lacs and above that at 6300, with huge OI of 55.10 lacs.
  • Day Range as per Option Table is 6030 - 6169 and as per VIX is 6048 - 6183 with 6006 as the Pivot.
Option Call for 26-11-2013
Buy Nifty 6100CE above 59 for targets of 73, 87 SL - 49
Buy Nifty 6100PE above 42 for targets of 61, 84 SL - 38

India VIX : 21.05 up by 1.01 points
Call OI : 33856400
Put OI : 34811650
PCR OI : 1.028
SMR : 20.47 (Bullish: A copybook comeback saw the PE writers back in command with the CE writers of Friday losing huge, only point which is going against the Bulls is SMR still around 20...)