Thursday, December 12, 2013

Option Open Interest for 12-12-2013

Inference
Nifty opened weak below 6300 and stayed weak throughout the entire session with a huge sell-off late afternoon to close at the lowest point of the day at 6237.05, a huge loss of 70.85 points. The broader market was also very weak, with just 483 advances to 844 declines. Best resistance back at 6300.
  • Call option 6200-6300 added 16.11 lacs huge amount of OI with profit booking seen at 6500 and above strike prices.
  • Put option 6100-5800 added 5.79 lacs huge amount of OI with short covering seen at 6300 and above strike prices.
  • Nifty Open Interest is at 2,22,44,500 up by 2,06,100, with decrease in price, mostly short build-up.
  • Bank Nifty Open Interest is at 15,97,550 down by 93,325, with decrease in price, mostly long liquidation.
  • FII’s sold 8.37 lacs Futures, mostly short build-up, as their net OI increased by 14901 contracts (includes 36607 longs and 53342 shorts for the day) and the average price per contract comes to around 6244.32.
  • FII’s future open contract as on date is 589126.
  • PCR Open Interest (Volume) is down a bit at 1.110.
  • Initial support now at 6200, with OI of 42.05 lacs and below that at 6100 with OI of 41.58 lacs.
  • Initial and best resistance at 6300, with OI highest of 54.33 lacs and above that at 6400, with OI of 46.59 lacs.
  • Day Range as per Option Table is 6191 - 6305 and as per VIX is 6179 - 6295 with 6251 as the Pivot.
Option Call for 13-12-2013
Buy Nifty 6300CE above 70 for targets of 82, 102 SL - 65
Buy Nifty 6300PE above 96 for targets of 113, 131 SL - 89

India VIX : 17.74, up by 0.20 points
Call OI : 38846050
Put OI : 43100450
PCR OI : 1.110
SMR : 15.99 (Neutral to Bearish: The Bears are back with a bang, with 6300 level now under wraps, Bulls need to come back fast or else a re-test of 6000 can happen in the next few days...)