Monday, December 2, 2013

Option Open Interest for 02-12-2013

Inference
Nifty opened flat but saw the buyers take control to move the index above 6200 level within the first hour of trade. The index stayed strong and closed above the psychological level of 6200 after 9 trading session at 6217.85, a gain of 41.75 points. The broader market was also strong, with 872 advances to 501 declines. Best support for the Series is at 6000.
  • Call option 6200-6700 added 28.59 lacs huge amount of OI with small short covering seen at 6000 and lower strike prices.
  • Put option 6300-5700 added 15.72 lacs huge amount of OI with small profit booking seen at 5600 strike price.
  • Nifty Open Interest is at 1,84,75,350 up by 2,98,250, with increase in price, mostly long build-up.
  • Bank Nifty Open Interest is at 16,01,325 up by 83,550, with increase in price, mostly long build-up.
  • FII’s bought huge 8.39 lacs Futures, mostly long build-up, as their net OI increased by 19303 contracts (includes 61805 longs and 45022 shorts for the day) and the average price per contract comes to around 6210.41.
  • FII’s future open contract as on date is 432778.
  • PCR Open Interest (Volume) is down a bit at 1.099.
  • Initial support jumped at 6200, with huge addition for the day at 5.36 lacs and below that at 6100 with OI of 35.61 lacs.
  • Initial resistance still at 6300, with OI of 43.88 lacs and above that at 6400, with OI of 35.48 lacs.
  • Day Range as per Option Table is 6150 - 6267 and as per VIX is 6142 - 6294 with 6206 as the Pivot.
Option Call for 03-12-2013
Buy Nifty 6300CE above 128 for targets of 139, 152 SL - 120
Buy Nifty 6200PE above 121 for targets of 132, 144 SL - 116

India VIX : 23.36, up by 1.98 points
Call OI : 35463500
Put OI : 38961000
PCR OI : 1.099
SMR : 21.26 (Bullish: Bulls are firmly placed for a move towards a All Time New High with a close above the psychological level of 6200, with only concern being that SMR is above 20 for the time being...)