Monday, January 6, 2014

Option Open Interest for 06-01-2014

Inference
Nifty opened weak and remained weak for the entire session making a low of 6170, but closed just above at 6191.45, loss of 19.70 points. The broader market though was positive, with 796 advances to 565 declines. Best resistance for the series now at 6300 Level.
  • Call option 6100-6400 added 14.07 lacs huge amount of OI with profit booking seen at 6500 and above strike prices.
  • Put option 6200-5800 added 13.88 lacs huge amount of OI with short covering seen at 6300 and above strike prices.
  • Nifty Open Interest is at 1,77,63,900 up by 1,55,450, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 16,63,750 up by 1,20,025, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 6.42 lacs Futures, mostly short build-up, as their net OI increased by 21056 contracts (includes 32826 longs and 50670 shorts for the day) and the average price per contract comes to around 6165.01.
  • FII’s future open contract as on date is 419995.
  • PCR Open Interest (Volume) has gone up to 0.961, due to huge addition at lower level PE.
  • Initial and best support still at 6200, with huge OI of 42.54 lacs and below that at 6100 with OI of 39.50 lacs.
  • Initial and best resistance at 6300, with highest OI of 48.53 lacs and above that at 6400, with OI of 38.31 lacs.
  • Day Range as per Option Table is 6146 - 6247 and as per VIX is 6138 - 6245 with 6195 as the Pivot.
Option Call for 07-01-2014
Buy Nifty 6200CE above 112 for targets of 122, 134 SL - 107
Buy Nifty 6200PE above 87 for targets of 95, 105 SL - 83

India VIX : 16.50, up by 0.63 points
Call OI : 30856500
Put OI : 29652000
PCR OI : 0.961
SMR : 17.17 (Bearish: Nifty ultimately closed below 6200, but the Bears are unable to take control of the situation with the 6200PE still holding on, seems like a gap-down only can put pressure on them...)