Friday, December 27, 2013

Option Open Interest for 27-12-2013

Inference
Nifty opened positive and stayed in a very narrow range for second day in a row but with positive bias throughout the entire session to close at 6313.80, gain of 34.90 points. On a week on week basis the index gained 39.55 points or around 0.63%. The broader market was positive, with 767 advances to 614 declines. Developing Range for the next week comes to around 6200-6500.
  • Call option 6300-6800 added 26.31 lacs huge amount of OI.
  • Put option 6400-5800 added 23.93 lacs huge amount of OI with small short covering seen at 6500 and above strike prices.
  • Nifty Open Interest is at 1,97,39,300 up by 7,86,650, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 14,02,725 up by 91,125, with increase in price, most probably huge long build-up.
  • FII’s bought 4.52 lacs Futures, mostly long build-up, as their net OI increased by 10104 contracts (includes 23592 longs and 14544 shorts for the day) and the average price per contract comes to around 6326.89.
  • FII’s future open contract as on date is 424463.
  • PCR Open Interest (Volume) is still at 0.928.
  • Initial support still at 6300, with huge OI of 31.34 lacs and below that at 6200 with huge OI of 32.03 lacs.
  • Initial resistance still at 6400, with OI of 31.15 lacs and above that at 6500, with highest OI of 38.65 lacs.
  • Day Range as per Option Table is 6261 - 6362 and as per VIX is 6265 - 6362 with 6309 as the Pivot.
Option Call for 30-12-2013
Buy Nifty 6400CE above 93 for targets of 101, 109 SL - 88
Buy Nifty 6300PE above 83 for targets of 90, 102 SL - 79

India VIX : 14.66, down by 0.22 points
Call OI : 24333950
Put OI : 22571000
PCR OI : 0.928
SMR : 15.81 (Bullish: A very low volume day, but the Bulls made sure that the momentum Is not lost on the first day of the series though PCR is still below 1...)