Sunday, January 19, 2014

Option Open Interest for 17-01-2014

Inference
Nifty opened weak and stayed weak for the entire session to close just above the low at 6261.65, a huge loss of 57.25 points. On a week on week basis the index was up by 90.20 points or approx 1.46%. The broader market was also weak, with just 367 advances to 1075 declines. Best support still at 6200 Level.
  • Call option 6200-6400 added 10.47 lacs huge amount of OI with profit booking seen at 6600 and above strike prices.
  • Put option 5900 added 8.71 lacs huge amount of OI with huge short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 1,79,84,100 down by 10,41,500, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 17,87,750 up by 1,08,500, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 3.93 lacs Futures, mostly long liquidation, as their net OI decreased by 8551 contracts (includes 55853 longs and 63718 shorts for the day) and the average price per contract comes to around 6187.41.
  • FII’s future open contract as on date is 483731.
  • PCR Open Interest (Volume) has come down to 1.113.
  • Initial and best support at 6200, with highest OI of 55.82 lacs and below that at 6100 with OI of 52.93 lacs.
  • Initial and best resistance at 6300, with huge OI of 52.20 lacs and above that at 6400, with OI of 49.67 lacs.
  • Day Range as per Option Table is 6224 - 6325 and as per VIX is 6211 - 6312 with 6278 as the Pivot.
Option Call for 20-01-2014
Buy Nifty 6200CE above 115 for targets of 130, 152 SL - 109
Buy Nifty 6300PE above 82 for targets of 98, 115 SL - 73

India VIX : 15.41 down by 0.13 points
Call OI : 31222000
Put OI : 34734950
PCR OI : 1.113
SMR : 13.85 (Neutral: The index is unable to sustain higher levels above 6300 and has been pushed back again in the 6200-6300 range, neither the Bulls nor the Bears have clear advantage going forward...)