Monday, December 30, 2013

Option Open Interest for 30-12-2013

Inference
Nifty opened gap-up around 6340 level but was immediately sold off below the previous day’s close and stayed weak throughout the entire session to close at 6291.10, a small loss of 22.70 points. The broader market was flat, with 696 advances to 698 declines. Range for the week stays around 6200-6400.
  • Call option 6300-6700 added 16.56 lacs huge amount of OI with small profit booking seen at 6800 strike price.
  • Put option 6300-6200 added 5.41 lacs huge amount of OI with small short covering seen at 6400 strike price.
  • Nifty Open Interest is at 1,92,43,350 down by 4,95,950, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 13,94,625 down by 8,100, with decrease in price, most probably small long liquidation.
  • FII’s sold small 0.61 lacs Futures, mostly short build-up, as their net OI increased by 2603 contracts (includes 30336 longs and 31561 shorts for the day) and the average price per contract comes to around 6287.76.
  • FII’s future open contract as on date is 427066.
  • PCR Open Interest (Volume) is down to 0.895.
  • Initial support still intact at 6300, with huge OI of 34.37 lacs and below that at 6200 with huge OI of 34.40 lacs.
  • Initial resistance getting better at 6400, with OI now at 34.93 lacs and above that at 6500, with highest OI of 43.92 lacs.
  • Day Range as per Option Table is 6250 - 6352 and as per VIX is 6241 - 6341 with 6303 as the Pivot.
Option Call for 31-12-2013
Buy Nifty 6400CE above 81 for targets of 92, 111 SL - 77
Buy Nifty 6300PE above 90 for targets of 100, 111 SL - 84

India VIX : 15.08 up by 0.42 points
Call OI : 26056500
Put OI : 23322400
PCR OI : 0.895
SMR : 16.85 (Bullish with Caution: Another low volume day, but this time the Bears took the initiative and closed the index below the psychological level of 6300 with PCR volume at all time low for the series...)