Tuesday, December 3, 2013

Option Open Interest for 03-12-2013

Inference
Nifty opened weak around 6200 level, but saw the Buyer trying hard to move it above the previous day’s close, but failed to close in green. The index still closed above the psychological level of 6200 at 6201.85, a small loss of 16.00 points. The broader market was just weak, with 668 advances to 700 declines. Best support for the Series is at 6000 and resistance at 6500.
  • Call option 6200-6700 added 18.76 lacs huge amount of OI with small short covering seen at 6100 and lower strike prices.
  • Put option 6400-5800 added 22.19 lacs huge amount of OI with small profit booking seen at 5700 strike price.
  • Nifty Open Interest is at 1,87,78,300 up by 3,02,950, with decrease in price, mostly short build-up.
  • Bank Nifty Open Interest is at 15,62,425 down by 38,900, with decrease in price, mostly long liquidation.
  • FII’s bought 2.23 lacs Futures, mostly long build-up, as their net OI increased by 18185 contracts (includes 42305 longs and 37854 shorts for the day) and the average price per contract comes to around 6193.07.
  • FII’s future open contract as on date is 450963.
  • PCR Open Interest (Volume) is stable around 1.108.
  • Initial support still at 6200, with huge addition for the day at 6.51 lacs and below that at 6100 with OI of 41.39 lacs.
  • Initial resistance at 6300, with OI of 45.42 lacs and above that at 6400, with OI of 37.46 lacs.
  • Day Range as per Option Table is 6151 - 6260 and as per VIX is 6122 - 6282 with 6206 as the Pivot.
Option Call for 04-12-2013
Buy Nifty 6300CE above 129 for targets of 139, 150 SL - 124
Buy Nifty 6200PE above 135 for targets of 143, 153 SL - 129

India VIX : 24.72 up by 1.36 points
Call OI : 37712950
Put OI : 41780600
PCR OI : 1.108
SMR : 22.31 (Bullish: Though Nifty closed in Red, but the Bulls are still in control of Option Table, only concern is VIX rising fast could be a dampener...)