Thursday, December 26, 2013

Option Open Interest for 26-12-2013

Inference
Nifty opened flat to positive and stayed in a very narrow range of 20 points for the better part of the day with small range extension happening during the last 30 min, but closing flat at 6278.90, a small gain of 10.50 points. The broader market was very strong, with 936 advances to 453 declines. Developing Range at the start of the series is 6100-6500.
  • Call option 6000-6800 added 38.06 lacs huge amount of OI.
  • Put option 6800-6000 added 36.65 lacs huge amount of OI.
  • Nifty Open Interest is at 1,89,52,650 up by huge 30,04,550, with small increase in price, 100% rollover from previous series with some long build-up.
  • Bank Nifty Open Interest is at 13,11,600 up by 4,66,250, with increase in price, mostly rollover with small short covering in previous series.
  • FII’s bought 10.98 lacs Futures, mostly short covering, as their net OI decreased by 250672 contracts (includes 173122 longs and 151171 shorts for the day) and the average price per contract comes to around 6299.80.
  • FII’s future open contract as on date is 414359.
  • PCR Open Interest (Volume) at start of series is weak at 0.928.
  • Initial support at 6300, with huge addition for the day at 8.92 lacs and below that at 6200 with huge OI of 27.45 lacs.
  • Initial resistance at 6400, with OI of 27.08 lacs and above that at 6500, with highest OI of 32.28 lacs.
  • Day Range as per Option Table is 6227 - 6334 and as per VIX is 6230 - 6328 with 6280 as the Pivot.
Option Call for 27-12-2013
Buy Nifty 6400CE above 86 for targets of 92, 99 SL - 81
Buy Nifty 6300PE above 93 for targets of 101, 113 SL - 89

India VIX : 14.88 down by 0.70 points
Call OI : 21298300
Put OI : 19771050
PCR OI : 0.928
SMR : 16.03 (Bullish with Caution: A dull range bound expiry happened as said below 6300, with the new series starting with a small edge to the Bears as PCR is below 1...)