Friday, November 29, 2013

Option Open Interest for 29-11-2013

Inference
Nifty opened positive just above 6100 and saw huge buying from the onset to move above 6160 within the first few minutes of trade. The index stayed within a narrow range from thereon to close near the highs at 6176.10, a huge gain of 84.25 points. On a week on week basis the index gained 180.65 points or approx 3.01%. The broader market was also strong, with 895 advances to 472 declines. Best support for December Series is right now placed at 6000.
  • Call option 6200-6700 added 21.28 lacs huge amount of OI with small short covering seen at 6000 and lower strike prices.
  • Put option 6300-5600 added 27.28 lacs huge amount of OI with small short covering seen at 6500 strike price.
  • Nifty Open Interest is at 1,81,77,100 up by 8,71,000, with increase in price, mostly long build-up.
  • Bank Nifty Open Interest is at 15,17,775 up by 1,45,200, with increase in price, mostly long build-up.
  • FII’s bought huge 8.91 lacs Futures, mostly long build-up, as their net OI increased by 24577 contracts (includes 67070 longs and 49245 shorts for the day) and the average price per contract comes to around 6169.14.
  • FII’s future open contract as on date is 413475.
  • PCR Open Interest (Volume) is moving up and now at 1.162.
  • Initial support getting better at 6100, with huge addition for the day at 6.82 lacs and below that at 6000 with highest OI of 52.73 lacs.
  • Initial resistance right now at 6300, with OI of 40.20 lacs and above that at 6400, with OI of 30.83 lacs.
  • Day Range as per Option Table is 6100 - 6224 and as per VIX is 6107 - 6245 with 6154 as the Pivot.
Option Call for 02-12-2013
Buy Nifty 6300CE above 101 for targets of 117, 132 SL - 92
Buy Nifty 6100PE above 94 for targets of 105, 123 SL - 89

India VIX : 21.38 up by 0.67 points
Call OI : 32178150
Put OI : 37390200
PCR OI : 1.162
SMR : 18.40 (Bullish: Bulls carried on with the good work done on Expiry day with a huge gain of 84 points with immediate resistance placed only at 6300, Can the index show All Time New High next week...)