Wednesday, January 8, 2014

Option Open Interest for 08-01-2014

Inference
Nifty opened positive and stayed above the previous day’s close for the entire session but was unable to scale 6200 level to close just below at 6174.60, a small gain of 12.35 points. The broader market was also positive, with 771 advances to 609 declines. Best resistance for the series stays at 6300 Level.
  • Call option 6200, 6400 added 4.81 lacs huge amount of OI with profit booking seen at 6500 and above strike prices.
  • Put option 6200-5900 added 8.23 lacs huge amount of OI with profit booking seen at 5800 strike price.
  • Nifty Open Interest is at 1,72,66,850 down by 4,48,300, with not much change in price, most probably long liquidation/short covering.
  • Bank Nifty Open Interest is at 16,52,300 up by 4,350, with increase in price, most probably long build-up.
  • FII’s sold huge 8.40 lacs Futures, mostly long liquidation, as their net OI decreased by 12807 contracts (includes 27887 longs and 44678 shorts for the day) and the average price per contract comes to around 6139.84.
  • FII’s future open contract as on date is 434004.
  • PCR Open Interest (Volume) after many days back above 1 at 1.017.
  • Initial support at 6100, with huge OI of 44.62 lacs and below that at 6000 with huge OI of 48.81 lacs.
  • Initial and best resistance at 6300, with highest OI of 51.05 lacs and above that at 6400, with OI of 42.18 lacs.
  • Day Range as per Option Table is 6129 - 6224 and as per VIX is 6122 - 6227 with 6176 as the Pivot.
Option Call for 09-01-2014
Buy Nifty 6200CE above 91 for targets of 97, 106 SL - 87
Buy Nifty 6200PE above 94 for targets of 101, 111 SL - 89

India VIX : 16.32
Call OI : 31528300
Put OI : 32054000
PCR OI : 1.017
SMR : 16.05 (Bearish with Caution: Another range bound day but for a change the bias remained positive with PCR Volume moving above 1 after many days, Base building on...)