Wednesday, January 22, 2014

Option Open Interest for 22-01-2014

Inference
Nifty opened soft and went on to touch the lows of the day around 6287 within the first few minutes of trade. The responsive buyers took control from thereon to move the index back in the green closing at 6338.95, gain of 25.15 points. The broader market was also positive, with 755 advances to 661 declines. Best support for the series at 6200 Level.
  • Call option 6400-6600 added 6.17 lacs huge amount of OI with short covering seen at 6300 and below strike prices.
  • Put option 6400-6200 added 14.38 lacs huge amount of OI with profit booking seen at 6100 and below strike prices.
  • Nifty Open Interest is at 1,75,11,800 down by 1,44,250, whereas Feb series added 6.78 lacs, with increase in price, most probably 100% roll-over with huge long build-up in the next series.
  • Bank Nifty Open Interest is at 15,56,850 down by 15,275, whereas Feb series added 0.25 lacs, with increase in price, most probably 100% roll-over with some long build-up in next series.
  • FII’s bought 1.33 lacs Futures, mostly long build-up, as their net OI increased by 16466 contracts (includes 47916 longs and 45254 shorts for the day) and the average price per contract comes to around 6281.78.
  • FII’s future open contract as on date is 502469.
  • PCR Open Interest (Volume) is still around 1.283.
  • Initial support at 6300, with huge OI of 62.85 lacs and below that at 6200 with highest OI of 67.37 lacs.
  • Initial resistance at 6400, with huge OI of 49.09 lacs and above that at 6500, with OI of 50.81 lacs.
  • Day Range as per Option Table is 6282 - 6378 and as per VIX is 6286 - 6392 with 6325 as the Pivot.
Option Call for 23-01-2014
Buy Nifty 6300CE above 83 for targets of 101, 120 SL - 72
Buy Nifty 6300PE above 89 for targets of 101, 119 SL - 84

India VIX : 15.85 up by 0.30 points
Call OI : 30762450
Put OI : 39456350
PCR OI : 1.283
SMR : 12.36 (Bullish: Another day when the Bulls were able to firmly hold on to the psychological level of 6300 with ease and cementing the level of 6300 as immediate base with PCR above 1.39...)