Tuesday, November 26, 2013

Option Open Interest for 26-11-2013

Inference
Nifty opened weak just below 6100 level and tried to move above the previous day’s close but was sold-off and closed near the lows of the day at 6059.10, a huge loss of 56.25 points. The broader market was very weak, with just 505 advances to 846 declines. Resistance for the series now placed at 6200 level.
  • Call option 6000-6200 added 18.90 lacs huge amount of OI with profit booking seen at 6300 and above strike prices.
  • Put option saw huge short covering from 6000 and above strike prices.
  • Nifty Open Interest is at 1,01,48,700 down by 21,48,750, whereas Dec Series added 19.14 lacs with decrease in price, mostly rollover with small long liquidation.
  • Bank Nifty Open Interest is at 14,46,825 down by 36,825, whereas Dec Series added 4.39 lacs with decrease in price, most probably 100% roll-over with huge short build-up in Dec series.
  • FII’s sold small 0.26 lacs Futures, mostly short build-up, as their net OI increased by 4177 contracts (includes 141352 longs and 141881 shorts for the day) and the average price per contract comes to around 6014.48.
  • FII’s future open contract as on date is 530316.
  • PCR Open Interest (Volume) is back below 1 at 0.880.
  • Initial and best support at 6000, with huge OI of 58.95 lacs and below that at 5900 with OI of just 44.54 lacs.
  • Initial resistance now at 6100, with OI of 51.72 lacs and above that at 6200, with highest OI of 64.69 lacs.
  • Day Range as per Option Table is 6004 - 6136 and as per VIX is 5991 - 6128 with 6073 as the Pivot.
Option Call for 27-11-2013
Buy Nifty 6000CE above 96 for targets of 114, 145 SL - 89
Buy Nifty 6100PE above 50 for targets of 61, 74 SL - 44

India VIX : 21.59, up by 0.54 points
Call OI : 35620000
Put OI : 31344550
PCR OI : 0.880
SMR : 24.53 (Neutral to Bearish: Bulls come back party was over in a day with the Bears hammering them out of the Option Table, with 6200 level now resistance till expiry...)