Thursday, December 5, 2013

Option Open Interest for 05-12-2013

Inference
Nifty opened up by more than 100 points, and went up to the highs of the day around 6300 but profit booking from thereon saw the index close around the lows of the day at 6241.10, still a huge gain of 80.15 points. The broader market though was just positive, with 683 advances to 663 declines. Best resistance is at 6500.
  • Call option 6400-6700 added 24.17 lacs huge amount of OI with short covering seen at 6200 and lower strike prices.
  • Put option 6500-6200 added 8.74 lacs huge amount of OI with profit booking seen at 6100 and lower strike prices.
  • Nifty Open Interest is at 1,90,39,750 up by 9,08,650, with increase in price, mostly huge long build-up.
  • Bank Nifty Open Interest is at 15,47,475 up by 50,675, with increase in price, mostly huge long build-up.
  • FII’s bought huge 12.30 lacs Futures, mostly long build-up, as their net OI increased by 30010 contracts (includes 91554 longs and 66952 shorts for the day) and the average price per contract comes to around 6248.52.
  • FII’s future open contract as on date is 469486.
  • PCR Open Interest (Volume) though has moved down to 1.017.
  • Initial support gaining strength at 6200, with huge OI of 39.64 lacs and below that at 6100 with OI of 37.38 lacs.
  • Initial resistance still at 6300, with OI of 41.71 lacs and above that at 6400, with OI of 56.46 lacs.
  • Day Range as per Option Table is 6195 - 6312 and as per VIX is 6170 - 6312 with 6258 as the Pivot.
Option Call for 06-12-2013
Buy Nifty 6300CE above 132 for targets of 147, 174 SL - 125
Buy Nifty 6200PE above 98 for targets of 112, 126 SL - 93

India VIX : 21.68 down by 2.03 points
Call OI : 41421200
Put OI : 42112050
PCR OI : 1.017
SMR : 21.32 (Bullish: Nifty though had a huge gain of 80 points, but the Option Table seems to be not in sync as PCR went down and is just above 1, with huge addition at 6400CE, Stay cautious at higher levels...)