Wednesday, December 18, 2013

Option Open Interest for 18-12-2013

Inference
Nifty opened flat but started to gain momentum within the first few minutes of trade. The RBI governor added fuel to the fire by keeping Repo and CRR both unchanged, which saw the index move to the highs of the day at 6236 but settled a tad lower at 6217.15, a huge gain of 78.10 points. The broader market was also strong, with 896 advances to 441 declines. Range remains at 6000-6300 but the bias is getting bullish.
  • Call option 6400 added 3.89 lacs huge amount of OI with short covering seen at 6200 and below strike prices.
  • Put option 6300-6100 added 23.17 lacs huge amount of OI with profit booking seen at 5900 and below strike prices.
  • Nifty Open Interest is at 2,20,40,300 up by 1,76,250, with increase in price, mostly long build-up.
  • Bank Nifty Open Interest is at 14,80,925 down by 43,950, with increase in price, mostly short covering.
  • FII’s bought 9.01 lacs Futures, mostly long build-up, as their net OI increased by 35790 contracts (includes 84727 longs and 66699 shorts for the day) and the average price per contract comes to around 6217.04.
  • FII’s future open contract as on date is 629793.
  • PCR Open Interest (Volume) is up at 1.109.
  • Initial support back up at 6200, with huge addition for the day at 13.92 lacs and below that at 6100 with huge OI of 56.67 lacs.
  • Initial and best resistance at 6300, with highest OI of 67.96 lacs and above that at 6400, with OI of 57.04 lacs.
  • Day Range as per Option Table is 6146 - 6257 and as per VIX is 6160 - 6274 with 6194 as the Pivot.
Option Call for 19-12-2013
Buy Nifty 6200CE above 93 for targets of 113, 135 SL - 81
Buy Nifty 6300PE above 112 for targets of 137, 167 SL - 105

India VIX : 17.54, down by 0.79 points
Call OI : 41466950
Put OI : 45994650
PCR OI : 1.109
SMR : 15.81 (Neutral: Bulls got the breather in the form of RBI Governor, who for a change kept both REPO and CRR unchanged, to close firmly above 6200, a follow-up action can bring back the high seen in the series...)