Sunday, December 22, 2013

Option Open Interest for 20-12-2013

Inference
Nifty opened flat but saw the Buyers take control to scale one level after another to end the day near the highs at 6274.25, a huge gain of 107.60 points. On a week-on-week basis the index gained 105.85 points or around 1.72%. The broader market was also strong, with 933 advances to 406 declines. Range has boiled down to 6150-6350.
  • No Call option addition was seen though short covering was seen at 6300 and below strike prices.
  • Put option 6300-6100 added 41.50 lacs huge amount of OI with profit booking seen at 6000 and lower strike prices.
  • Nifty Open Interest is at 1,83,71,150 down by huge 6,00,050, whereas Jan series added 20.93 lacs OI with increase in price, 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 13,60,200 down by 1,10,525, whereas Jan series added 0.21 lacs with increase in price, small rollover with huge short covering.
  • FII’s bought 5.46 lacs Futures, mostly long build-up, as their net OI increased by 32014 contracts (includes 101170 longs and 90256 shorts for the day) and the average price per contract comes to around 6256.56.
  • FII’s future open contract as on date is 616510.
  • PCR Open Interest (Volume) is near the high point of the last few days at 1.237.
  • Initial and best support now at 6200, with highest OI of 66.75 lacs and below that at 6100 with huge OI of 60.88 lacs.
  • Initial and best resistance at 6300, with huge OI of 64.86 lacs and above that at 6400, with OI of 48.17 lacs.
  • Day Range as per Option Table is 6188 - 6314 and as per VIX is 6222 - 6327 with 6243 as the Pivot.
Option Call for 23-12-2013
Buy Nifty 6200CE above 102 for targets of 123, 155 SL - 83
Buy Nifty 6300PE above 68 for targets of 89, 117 SL - 62

India VIX : 16.02, down by 0.56 points
Call OI : 38854300
Put OI : 48080150
PCR OI : 1.237
SMR : 12.95 (Bullish: Bears missed the follow-up action and the Bulls came back with a renewed vigour to get a huge lead in the Option Table and now has a clear chance to scale 6300 before expiry...)