Tuesday, December 24, 2013

Option Open Interest for 24-12-2013

Inference
Nifty opened flat to positive and stayed in a narrow range for the better part of the day but saw some selling pressure around closing moments to end in the red at 6268.40, a small loss of 16.10 points. The broader market though was strong, with 834 advances to 547 declines. Range for expiry has come down to 6230-6330.
  • Call option 6250-6300 added 10.87 lacs huge amount of OI with short covering seen at 6200 and below strike prices.
  • Put option 6250-6200 added 6.65 lacs huge amount of OI with short covering seen at 6300 and above strike prices.
  • Nifty Open Interest is at 1,15,78,000 down by huge 17,95,950, whereas Jan series added 27.10 lacs OI with small decrease in price, 100% rollover with some short build-up.
  • Bank Nifty Open Interest is at 11,07,600 down by 83,075, whereas Jan series added 1.30 lacs with decrease in price, 100% rollover with huge short build-up.
  • FII’s bought 3.25 lacs Futures, mostly long build-up, as their net OI increased by 44363 contracts (includes 140364 longs and 133857 shorts for the day) and the average price per contract comes to around 6263.59.
  • FII’s future open contract as on date is 665031.
  • PCR Open Interest (Volume) moved down to 1.287.
  • Initial and best support at 6200, with huge OI of 69.15 lacs and below that at 6100 with huge OI of 50.78 lacs.
  • Initial and best resistance at 6300, with highest OI of 69.93 lacs and above that at 6400, with OI of 51.58 lacs.
  • Expiry Day Range as per Option Table is 6217 - 6330 and as per VIX is 6217 - 6320 with 6277 as the Pivot.
Next Series Option Table and How it's Shaping Up

Option Call for 26-12-2013
Buy Nifty 6250CE above 47 for targets of 59, 79 SL - 41
Buy Nifty 6300PE above 31 for targets of 42, 53 SL - 25

India VIX : 15.58, down by 0.68 points
Call OI : 36056400
Put OI : 46411700
PCR OI : 1.287
SMR : 12.10 (Bullish: The Bears for a change came back to make sure that Expiry happens just below 6300 level with huge addition at 6300CE, or the Bulls are having other idea...)