Thursday, January 9, 2014

Option Open Interest for 09-01-2014

Inference
Nifty opened flat to positive and stayed within a narrow range of 40 points for the entire session and closed flat at 6168.35, a small loss of 6.25 points. The market is waiting for some kind of news to take a direction. The broader market though was very weak, with just 483 advances to 920 declines. Best support for the series now at 6000 Level.
  • Call option 6200, 6400 added 7.83 lacs huge amount of OI with profit booking seen at 6700 and above strike prices.
  • Put option 6100-5800 added 13.86 lacs huge amount of OI with short covering seen at 6300 and above strike prices.
  • Nifty Open Interest is at 1,70,72,950 down by 1,93,900, with small decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 16,40,525 down by 11,775, with decrease in price, most probably long liquidation.
  • FII’s sold huge 7.49 lacs Futures, mostly long liquidation, as their net OI decreased by 8098 contracts (includes 40292 longs and 55266 shorts for the day) and the average price per contract comes to around 6118.96.
  • FII’s future open contract as on date is 425906.
  • PCR Open Interest (Volume) still holding above 1 at 1.014.
  • Initial support at 6100, with huge OI of 46.61 lacs and below that at 6000 with highest OI of 54.37 lacs.
  • Initial resistance at 6300, with huge OI of 50.95 lacs and above that at 6400, with OI of 43.50 lacs.
  • Day Range as per Option Table is 6124 - 6214 and as per VIX is 6116 - 6221 with 6168 as the Pivot.
Option Call for 10-01-2014
Buy Nifty 6200CE above 81 for targets of 91, 102 SL - 76
Buy Nifty 6200PE above 99 for targets of 108, 120 SL - 92

India VIX : 16.18 down by 0.14 points
Call OI : 32216700
Put OI : 32660650
PCR OI : 1.014
SMR : 15.96 (Bearish with Caution: An 80 point range week till now for week, a range extension tomorrow is very much on the cards with relentless selling from FII’s in Future, stay alert...)