Wednesday, December 11, 2013

Option Open Interest for 11-12-2013

Inference
Nifty opened weak around 6300 and stayed weak throughout the entire session but a late afternoon burst saw the index move to the high point of the day but closed at 6307.90, a small loss of 24.95 points. The broader market was very weak, with just 545 advances to 780 declines. Best resistance at 6500.
  • Call option 6300, 6500 added 4.92 lacs huge amount of OI with profit booking seen at 6400 and above strike prices.
  • Put option 6300-6200 added 7.37 lacs huge amount of OI with profit booking seen at 6100 and lower strike prices.
  • Nifty Open Interest is at 2,20,38,400 up by 61,700, with decrease in price, mostly short build-up.
  • Bank Nifty Open Interest is at 15,90,875 up by 96,550, with small decrease in price, mostly long/short build-up.
  • FII’s bought 1.37 lacs Futures, mostly long build-up, as their net OI increased by 13288 contracts (includes 41630 longs and 38888 shorts for the day) and the average price per contract comes to around 6318.34.
  • FII’s future open contract as on date is 574225.
  • PCR Open Interest (Volume) is at 1.150.
  • Initial support getting better at 6300, with huge addition for the day at 4.09 lacs and below that at 6200 with OI of 40.54 lacs.
  • Initial resistance at 6400, with OI of 47.11 lacs and above that at 6500, with highest OI of 53.43 lacs.
  • Day Range as per Option Table is 6247 - 6364 and as per VIX is 6250 - 6366 with 6305 as the Pivot.
Option Call for 12-12-2013
Buy Nifty 6300CE above 105 for targets of 117, 130 SL - 99
Buy Nifty 6300PE above 65 for targets of 74, 85 SL - 60

India VIX : 17.54 down by 0.44 points
Call OI : 38020250
Put OI : 43710100
PCR OI : 1.150
SMR : 15.26 (Bullish with Caution: Second day in a row the index closed in Red, but the psychological level of 6300 is still being held and the Bulls can try one more time to re-test the highs of 6400...)