Monday, December 23, 2013

Option Open Interest for 23-12-2013

Inference
Nifty opened flat to positive and stayed in a narrow range for the better part of the day with positive bias, but a small sell-off towards the end saw the index move below the previous day’s close but moved up to shut shop at 6284.50, a small gain of 10.25 points. The broader market was strong, with 902 advances to 476 declines. Range till expiry has come down to 6220-6350.
  • Call option 6400 added 6.61 lacs huge amount of OI with short covering was seen at 6200 and below strike prices.
  • Put option 6400-6200 added 12.42 lacs huge amount of OI with profit booking seen at 6100 and lower strike prices.
  • Nifty Open Interest is at 1,33,73,950 down by huge 49,97,200, whereas Jan series added 52.49 lacs OI with increase in price, 100% rollover with some long build-up.
  • Bank Nifty Open Interest is at 11,90,675 down by 1,69,525, whereas Jan series added 2.06 lacs with increase in price, 100% rollover with huge long build-up.
  • FII’s bought 8.25 lacs Futures, mostly long build-up, as their net OI increased by 4158 contracts (includes 199988 longs and 183496 shorts for the day) and the average price per contract comes to around 6279.99.
  • FII’s future open contract as on date is 620668.
  • PCR Open Interest (Volume) is at the highs of the series at 1.311.
  • Initial and best support at 6200, with highest OI of 67.18 lacs and below that at 6100 with huge OI of 54.50 lacs.
  • Initial and best resistance still at 6300, with huge OI of 60.09 lacs and above that at 6400, with OI of 54.78 lacs.
  • Day Range as per Option Table is 6225 - 6350 and as per VIX is 6231 - 6338 with 6290 as the Pivot.
Option Call for 24-12-2013
Buy Nifty 6300CE above 36 for targets of 46, 61 SL - 31
Buy Nifty 6300PE above 31 for targets of 38, 47 SL - 26

India VIX : 16.26 up by 0.24 points
Call OI : 36581700
Put OI : 47974100
PCR OI : 1.311
SMR : 12.40 (Bullish: A perfect consolidation day, where the Bulls made sure that the lead taken on Friday is not wasted with huge addition at 6300PE level, Expiry could happen just above 6300...)