Tuesday, December 17, 2013

Option Open Interest for 17-12-2013

Inference
Nifty opened gap-up, but started drifting down from the word go to end around the lows of the day at 6139.05, a small loss of 15.65 points. The broader market was weak, with 608 advances to 731 declines. Range for the next few days is 6000-6300.
  • Call option 6100-6500 added 15.68 lacs huge amount of OI with profit booking seen at 6600 and above strike prices.
  • Put option 6100-5800 added 10.35 lacs huge amount of OI with short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 2,18,64,050 down by 5,96,850, with decrease in price, mostly long liquidation.
  • Bank Nifty Open Interest is at 15,24,875 up by 1,10,450, with decrease in price, mostly short build-up.
  • FII’s sold 0.41 lacs Futures, mostly long liquidation, as their net OI decreased by 987 contracts (includes 55403 longs and 56216 shorts for the day) and the average price per contract comes to around 6130.23.
  • FII’s future open contract as on date is 594003.
  • PCR Open Interest (Volume) is at 1.043.
  • Initial support still very much at 6100, with OI of 50.66 lacs and below that at 6000 with huge OI of 56.82 lacs.
  • Initial resistance getting stronger at 6200, with huge addition for the day at 4.36 lacs and above that at 6300, with highest OI of 70.70 lacs.
  • Day Range as per Option Table is 6100 - 6209 and as per VIX is 6080 - 6198 with 61 as the Pivot.
Option Call for 18-12-2013
Buy Nifty 6200CE above 61 for targets of 72, 89 SL - 57
Buy Nifty 6200PE above 92 for targets of 104, 117 SL - 82

India VIX : 18.33 up by 0.03 points
Call OI : 41845900
Put OI : 43633600
PCR OI : 1.043
SMR : 17.58 (Bearish: Bulls got a golden opportunity with a gap-up but the Bears had other idea and used it to sell high, going into the RBI meet tomorrow, the Bias remains NEGATIVE...)