Monday, January 20, 2014

Option Open Interest for 20-01-2014

Inference
Nifty opened flat and after an initial dip towards 6240, the responsive buyers took control and closed the index above 6300 to close the session at 6303.95, a huge gain of 42.30 points. The broader market was also positive, with 783 advances to 657 declines. Best support getting better at 6200 Level.
  • Call option 6500 added 3.56 lacs huge amount of OI with short covering seen at 6300 and below strike prices.
  • Put option 6300-5900 added 43.65 lacs huge amount of OI with profit booking seen at 5800 and below strike prices.
  • Nifty Open Interest is at 1,70,86,900 down by 8,97,200, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 16,63,300 down by 1,24,450, with increase in price, most probably huge short covering.
  • FII’s sold huge 1.62 lacs Futures, mostly long liquidation, as their net OI decreased by 30847 contracts (includes 58587 longs and 61820 shorts for the day) and the average price per contract comes to around 6245.17.
  • FII’s future open contract as on date is 452884.
  • PCR Open Interest (Volume) is around the highest point of the series at 1.299.
  • Initial support has moved up at 6300, with huge OI of 52.98 lacs and below that at 6200 with highest OI of 71.35 lacs.
  • Initial resistance at 6400, with huge OI of 42.66 lacs and above that at 6500, with OI of 43.55 lacs.
  • Day Range as per Option Table is 6240 - 6342 and as per VIX is 6253 - 6355 with 6285 as the Pivot.
Option Call for 21-01-2014
Buy Nifty 6300CE above 67 for targets of 80, 93 SL - 57
Buy Nifty 6300PE above 60 for targets of 75, 98 SL - 53

India VIX : 15.35 down by 0.06 points
Call OI : 30073350
Put OI : 39074400
PCR OI : 1.299
SMR : 11.81 (Bullish: Bulls came back to take the advantage with huge addition at 6300-6200PE Level, with 6200 now more or less sealed for the series, Bears are in a shock for the time being...)