Tuesday, January 21, 2014

Option Open Interest for 21-01-2014

Inference
Nifty opened flat to positive and stayed within a narrow range of 32 points for the entire session of trade with Bullish bias and closed at 6313.80, a small gain of 9.85 points. The broader market was also just positive, with 725 advances to 704 declines. Best support still at 6200 Level.
  • Call option 6400-6500 added 8.35 lacs huge amount of OI with short covering seen at 6200 and below strike prices.
  • Put option 6400-6300, 6100 added 4.75 lacs huge amount of OI with profit booking seen at 6000 and below strike prices.
  • Nifty Open Interest is at 1,76,56,050 up by 5,69,150, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 15,72,125 down by 91,175, with increase in price, most probably huge short covering.
  • FII’s bought 1.19 lacs Futures, mostly long build-up, as their net OI increased by 33119 contracts (includes 52534 longs and 50163 shorts for the day) and the average price per contract comes to around 6258.38.
  • FII’s future open contract as on date is 486003.
  • PCR Open Interest (Volume) is still hovering around 1.270.
  • Initial support at 6300, with huge OI of 54.38 lacs and below that at 6200 with highest OI of 66.17 lacs.
  • Initial resistance at 6400, with huge OI of 47.41 lacs and above that at 6500, with OI of 47.15 lacs.
  • Day Range as per Option Table is 6268 - 6362 and as per VIX is 6262 - 6365 with 6314 as the Pivot.
Option Call for 22-01-2014
Buy Nifty 6300CE above 67 for targets of 77, 88 SL - 63
Buy Nifty 6300PE above 45 for targets of 51, 60 SL - 40

India VIX : 15.55 up by 0.20 points
Call OI : 30630400
Put OI : 38914800
PCR OI : 1.270
SMR : 12.24 (Bullish: Bulls were able to hold 6300 level comfortably for the day, but it seems they are lacking the killer punch and had let the Bears add on at 6400-6500CE Levels...)