Wednesday, December 4, 2013

Option Open Interest for 04-12-2013

Inference
Nifty opened weak below 6200 level, and stayed below it for the major part of the day, the one time it went above, was sold huge to the lows of the day around 6150. The index ultimately closed at 6160.95, a huge loss of 40.90 points. The broader market was also weak, with 585 advances to 769 declines. Best support is at 6000 and resistance at 6500.
  • Call option 6200-6700 added 13.04 lacs huge amount of OI with small short covering seen at 6000 and lower strike prices.
  • Put option 6200-5600 added 15.61 lacs huge amount of OI with small short covering seen at 6300 strike price.
  • Nifty Open Interest is at 1,81,31,100 down by 6,47,200, with decrease in price, mostly huge long liquidation.
  • Bank Nifty Open Interest is at 14,96,800 down by 65,625, with decrease in price, mostly huge long liquidation.
  • FII’s sold 7.23 lacs Futures, mostly long liquidation, as their net OI decreased by 11487 contracts (includes 44238 longs and 58693 shorts for the day) and the average price per contract comes to around 6144.98.
  • FII’s future open contract as on date is 439476.
  • PCR Open Interest (Volume) is still around 1.117.
  • Initial support still at 6200, with huge addition for the day at 7.40 lacs and below that at 6100 with OI of 40.90 lacs.
  • Initial resistance at 6300, with OI of 45.39 lacs and above that at 6400, with OI of 43.34 lacs.
  • Day Range as per Option Table is 6119 - 6225 and as per VIX is 6084 - 6237 with 6173 as the Pivot.
Option Call for 05-12-2013
Buy Nifty 6300CE above 109 for targets of 121, 140 SL - 102
Buy Nifty 6100PE above 106 for targets of 115, 125 SL - 101

India VIX : 23.71, down by 1.01 points
Call OI : 39361050
Put OI : 43973800
PCR OI : 1.117
SMR : 21.22 (Neutral: Nifty was back below 6200 on the back of huge long liquidation as we approach the Big Election Result, the Option Table though is still Bullish...)