Thursday, January 16, 2014

Option Open Interest for 16-01-2014

Inference
Nifty opened positive around 6340 level but saw the sellers coming in to move the index around 6300, but value buying saw Nifty close flat at 6318.90, a miniscule loss of 2.00 points. The broader market though was weak, with 570 advances to 887 declines. Best support for the series still at 6200 Level.
  • Call option 6500-6600 added 7.84 lacs huge amount of OI with short covering seen at 6300 and lower strike prices.
  • Put option 6400-6300, 6100-6000 added 9.21 lacs huge amount of OI with profit booking seen at 5900 and lower strike prices.
  • Nifty Open Interest is at 1,90,25,600 up by 8,21,450, with no change in price, most probably huge long/short build-up.
  • Bank Nifty Open Interest is at 16,79,250 down by 34,850, with decrease in price, most probably long liquidation.
  • FII’s bought huge 5.88 lacs Futures, mostly long build-up, as their net OI increased by 19059 contracts (includes 55051 longs and 43294 shorts for the day) and the average price per contract comes to around 6257.06.
  • FII’s future open contract as on date is 492282.
  • PCR Open Interest (Volume) is at 1.167.
  • Initial support still at 6300, with huge OI of 45.08 lacs and below that at 6200 with highest OI of 65.41 lacs.
  • Initial and best resistance at 6400, with OI of 47.64 lacs and above that at 6500, with OI of 39.66 lacs.
  • Day Range as per Option Table is 6270 - 6372 and as per VIX is 6268 - 6370 with 6322 as the Pivot.
Option Call for 17-01-2014
Buy Nifty 6300CE above 84 for targets of 96, 110 SL - 79
Buy Nifty 6300PE above 57 for targets of 66, 78 SL - 53

India VIX : 15.54 up by 0.12 points
Call OI : 31445450
Put OI : 36697350
PCR OI : 1.167
SMR : 13.32 (Bullish: After the huge up-move of yesterday, the index stayed in a range bound consolidation mode but saw Profit booking at higher levels...)