Tuesday, January 14, 2014

Option Open Interest for 14-01-2014

Inference
Nifty opened flat to negative and after an initial up-move towards 6280, went down with each passing hour to close weak at 6241.85, a loss of 30.90 points. The broader market was also weak, with 606 advances to 830 declines. Best support for the series still at 6200 Level.
  • Call option 6200-6600 added 12.83 lacs huge amount of OI with short covering seen at 6100 and lower strike prices.
  • Put option 5800 added 1.12 lacs small amount of OI with short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,77,44,100 up by 1,70,450, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 17,17,625 up by 18,950, with decrease in price, most probably short build-up.
  • FII’s sold huge 6.63 lacs Futures, mostly short build-up, as their net OI increased by 23121 contracts (includes 32439 longs and 45692 shorts for the day) and the average price per contract comes to around 6173.13.
  • FII’s future open contract as on date is 445711.
  • PCR Open Interest (Volume) is still above 1 at 1.090.
  • Initial and best support still at 6200, with highest OI of 62.64 lacs and below that at 6100 with huge OI of 51.30 lacs.
  • Initial and best resistance at 6300, with OI of 52.33 lacs and above that at 6400, with OI of 49.46 lacs.
  • Day Range as per Option Table is 6199 - 6300 and as per VIX is 6190 - 6293 with 6252 as the Pivot.
Option Call for 15-01-2014
Buy Nifty 6200CE above 113 for targets of 124, 143 SL - 107
Buy Nifty 6300PE above 98 for targets of 109, 120 SL - 93

India VIX : 15.74 down by 0.21 points
Call OI : 31890350
Put OI : 34748050
PCR OI : 1.090
SMR : 14.45 (Bullish to Neutral: A perfect consolidating range bound day after the huge up-move of yesterday, though the bias remained negative and the CE writers adding huge at 6300-6400 level...)