Monday, December 16, 2013

Option Open Interest for 16-12-2013

Inference
Nifty opened flat and stayed in a narrow range for most of the trading session but went on to close near the lows of the day at 6154.70, a small loss of 13.70 points. The broader market was weak, with 557 advances to 757 declines. Range for the next few days is 6000-6300.
  • Call option 6100-6400 added 10.87 lacs huge amount of OI with profit booking seen at 6500 strike price.
  • Put option 6100-6000 added 5.22 lacs huge amount of OI with short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 2,24,60,900 up by 4,56,250, with decrease in price, mostly short build-up.
  • Bank Nifty Open Interest is at 14,14,425 down by 34,600, with no change, mostly long liquidation.
  • FII’s sold 9.17 lacs Futures, mostly short build-up, as their net OI increased by 25115 contracts (includes 33039 longs and 51380 shorts for the day) and the average price per contract comes to around 6158.96.
  • FII’s future open contract as on date is 569875.
  • PCR Open Interest (Volume) did not change much and now at 1.053.
  • Initial support still at 6100, with OI of 47.64 lacs and below that at 6000 with huge OI of 56.15 lacs.
  • Initial resistance at 6200, with huge addition for the day at 4.88 lacs and above that at 6300, with highest OI of 67.51 lacs.
  • Day Range as per Option Table is 6108 - 6214 and as per VIX is 6096 - 6214 with 6161 as the Pivot.
Option Call for 17-12-2013
Buy Nifty 6200CE above 68 for targets of 75, 85 SL - 63
Buy Nifty 6200PE above 83 for targets of 91, 100 SL - 79

India VIX : 18.36, up by 0.52 points
Call OI : 40632150
Put OI : 42805300
PCR OI : 1.053
SMR : 17.43 (Bearish: The Bears have just overtaken the Bulls at 6200 level with 5 days of continuous down move, it’s now or never for Bulls on Tuesday before the Big RBI event slated for Wednesday...)