Wednesday, January 15, 2014

Option Open Interest for 15-01-2014

Inference
Nifty opened flat to positive and went up within the first few hours of trade to scale 6300 level; a small sell-off saw the buyers back in action to close the index at the highs at 6320.90, a huge gain of 79.05 points. The broader market was also positive, with 760 advances to 680 declines. Best support for the series at 6200 Level.
  • Call option 6500-6600 added 4.15 lacs huge amount of OI with short covering seen at 6300 and lower strike prices.
  • Put option 6400-6000 added 30.94 lacs huge amount of OI with profit booking seen at 5900 and lower strike prices.
  • Nifty Open Interest is at 1,82,04,150 up by 4,60,050, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 17,14,100 down by 3,525, with increase in price, most probably small short covering.
  • FII’s bought huge 7.68 lacs Futures, mostly long build-up, as their net OI increased by 27512 contracts (includes 78264 longs and 62910 shorts for the day) and the average price per contract comes to around 6254.34.
  • FII’s future open contract as on date is 473223.
  • PCR Open Interest (Volume) is gaining strength at 1.185.
  • Initial support moving up to 6300, with huge addition of 10.57 lacs for the day and below that at 6200 with highest OI of 71.23 lacs.
  • Initial and best resistance now at 6400, with OI of 48.77 lacs and above that at 6500, with OI of just 38.80 lacs.
  • Day Range as per Option Table is 6257 - 6361 and as per VIX is 6270 - 6372 with 6304 as the Pivot.
Option Call for 16-01-2014
Buy Nifty 6300CE above 87 for targets of 99, 113 SL - 77
Buy Nifty 6300PE above 68 for targets of 79, 99 SL - 63

India VIX : 15.42 down by 0.32 points
Call OI : 31128550
Put OI : 36882050
PCR OI : 1.185
SMR : 13.01 (Bullish: After consolidation of yesterday, the Bulls on the back of better than anticipated WPI data captured 6300 level with ease paving the way for more highs in the coming days...)