Monday, January 13, 2014

Option Open Interest for 13-01-2014

Inference
Nifty opened small gap-up but saw the buyers taking control to move the index above 6250 within the first hour of trade. Nifty stayed in a small range but saw some short covering rally in the dying minutes to close at 6272.75, a huge gain of 101.30 points. The broader market though was weak, with 705 advances to 746 declines. Best support for the series now at 6200 Level.
  • Call option 6600 added 0.59 lacs small amount of OI with short covering seen at 6200 and lower strike prices.
  • Put option 6300-6100 added 33.67 lacs huge amount of OI with profit booking seen at 6000 and lower strike prices.
  • Nifty Open Interest is at 1,75,73,650 up by 5,28,050, with huge increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 16,98,675 down by 39,850, with increase in price, most probably huge short covering.
  • FII’s bought huge 14.84 lacs Futures, mostly long build-up, as their net OI increased by 2140 contracts (includes 87783 longs and 58111 shorts for the day) and the average price per contract comes to around 6206.25.
  • FII’s future open contract as on date is 422590.
  • PCR Open Interest (Volume) has moved up to healthy 1.168.
  • Initial and best support now at 6200, with highest OI of 64.50 lacs and below that at 6100 with huge OI of 53.81 lacs.
  • Initial resistance though looking weak is still at 6300, with OI of 47.88 lacs and above that at 6400, with OI of 44.78 lacs.
  • Day Range as per Option Table is 6203 - 6309 and as per VIX is 6220 - 6325 with 6250 as the Pivot.
Option Call for 14-01-2014
Buy Nifty 6300CE above 69 for targets of 86, 103 SL - 59
Buy Nifty 6300PE above 98 for targets of 119, 146 SL - 94

India VIX : 15.95 up by 0.37 points
Call OI : 30749900
Put OI : 35910750
PCR OI : 1.168
SMR : 13.66 (Bullish: The Bulls are back with a Bang, and have taken the lead on the first day of the week with huge addition at 6200-6300PE Levels...)