Wednesday, November 27, 2013

Option Open Interest for 27-11-2013

Inference
Nifty opened flat but drifted down with each passing hours to the lows of the day around 6030, a late afternoon burst saw the index back in the green, but closed just in the red at 6057.10, a miniscule loss of 2.00 points. The broader market though was weak, with just 577 advances to 766 declines. Resistance for the series now placed at 6200 level.
  • Call option 6100 added 5.10 lacs huge amount of OI with profit booking seen at 6200 and above strike prices.
  • Put option saw huge short covering from 6100 and above strike prices.
  • Nifty Open Interest is at 85,63,550 down by 15,85,150, whereas Dec Series added 25.58 lacs with small decrease in price, 100% rollover with huge short build-up in next series.
  • Bank Nifty Open Interest is at 11,94,775 down by 2,52,050, whereas Dec Series added 2.12 lacs with small decrease in price, mostly roll-over with some long liquidation.
  • FII’s sold small 0.10 lacs Futures, mostly short build-up, as their net OI increased by 29714 contracts (includes 121760 longs and 121968 shorts for the day) and the average price per contract comes to around 6021.00.
  • FII’s future open contract as on date is 560030.
  • PCR Open Interest (Volume) is precariously placed at 0.873.
  • Initial and best support still at 6000, with huge OI of 58.95 lacs and below that at 5900 with OI of just 43.78 lacs.
  • Initial resistance now at 6100, with OI of 56.82 lacs and above that at 6200, with highest OI of 63.07 lacs.
  • Expiry Day Range as per Option Table is 5994 - 6116 and as per VIX is 5990 - 6124 with 6054 as the Pivot.
Option Table for December Series is not Bearish

Option Call for 28-11-2013
Buy Nifty 6000CE above 74 for targets of 91, 109 SL - 68
Buy Nifty 6100PE above 45 for targets of 63, 86 SL - 40

India VIX : 21.14 down by 0.45 points
Call OI : 35392900
Put OI : 30896600
PCR OI : 0.873
SMR : 24.22 (Bearish to Neutral: Expiry for the series has boiled down to 6000-6100 range with the bias being negative, but short covering may see the expiry on the higher side...)