Tuesday, January 7, 2014

Option Open Interest for 07-01-2014

Inference
Nifty opened positive above 6200 but the sellers were waiting for this opportunity to sell high and took the index down towards the lows of the day at 6145. The Bulls tried their level best to move the index above 6200 again but closed weak at 6162.25, loss of 29.20 points. The broader market was also weak, with 626 advances to 738 declines. Best resistance for the series stays at 6300 Level.
  • Call option 6200-6500 added 13.74 lacs huge amount of OI with profit booking seen at 6600 and above strike prices.
  • Put option 6100-5700 added 15.83 lacs huge amount of OI with short covering seen at 6300 and above strike prices.
  • Nifty Open Interest is at 1,77,15,150 down by 48,750, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 16,47,950 down by 15,800, with decrease in price, most probably long liquidation.
  • FII’s sold huge 21.67 lacs Futures, mostly short build-up, as their net OI increased by 26816 contracts (includes 44453 longs and 87789 shorts for the day) and the average price per contract comes to around 6138.41.
  • FII’s future open contract as on date is 446811.
  • PCR Open Interest (Volume) is still around 0.967.
  • Initial support coming down to 6100, with huge OI of 41.41 lacs and below that at 6000 with huge OI of 48.31 lacs.
  • Initial and best resistance at 6300, with highest OI of 52.66 lacs and above that at 6400, with OI of 39.20 lacs.
  • Day Range as per Option Table is 6124 - 6225 and as per VIX is 6110 - 6215 with 6176 as the Pivot.
Option Call for 08-01-2014
Buy Nifty 6200CE above 99 for targets of 114, 137 SL - 93
Buy Nifty 6200PE above 96 for targets of 113, 131 SL - 89

India VIX : 16.32 down by 0.18 points
Call OI : 32071050
Put OI : 30999700
PCR OI : 0.967
SMR : 16.88 (Bearish: Bears broke down the psychological level of 6170 and took control of the Option Table for the time being, Bulls need to come back fast or else...)