Monday, January 27, 2014

Option Open Interest for 27-01-2014

Inference
Nifty opened down by more than 80 points and stayed weak throughout the entire session to close around the lows of the day at 6135.85, a huge loss of 130.90 points. The broader market was also very weak, with 221 advances to 1229 declines. Best resistance for the series is now at 6300 Level.
  • Call option 6100-6400 added 51.04 lacs huge amount of OI with profit booking seen at 6500 and above strike prices.
  • Put option 6150, 5900-5800 added 6.99 lacs small amount of OI with huge short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 1,26,51,850 down by 32,18,500, whereas Feb series added 37.70 lacs, with decrease in price, most probably 100% roll-over with some short build-up in next series.
  • Bank Nifty Open Interest is at 17,64,900 up by 1,80,600, whereas Feb series added 2.37 lacs, with decrease in price, most probably short build-up in both series.
  • FII’s sold 8.99 lacs Futures, mostly short build-up, as their net OI increased by 12654 contracts (includes 173581 longs and 191559 shorts for the day) and the average price per contract comes to around 6066.11.
  • FII’s future open contract as on date is 525546.
  • PCR Open Interest (Volume) has gone down below 1 to 0.844.
  • Initial and best support still at 6100, with huge OI of 42.38 lacs and below that at 6000 with OI of 42.33 lacs.
  • Initial resistance right now at 6150, with huge addition for the day at 7.52 lacs and above that at 6200, with OI of 45.52 lacs.
  • Day Range as per Option Table is 6095 - 6202 and as per VIX is 6076 - 6196 with 6152 as the Pivot.
Option Call for 28-01-2014
Buy Nifty 6200CE above 35 for targets of 58, 67 SL - 30
Buy Nifty 6200PE above 79 for targets of 96, 115 SL - 64

India VIX : 18.67 up by 2.84 points
Call OI : 34246100
Put OI : 28913250
PCR OI : 0.844
SMR : 22.11 (Bearish: The index in 2 days has lost more than 200 points and is trading below all short term averages with Option Table PCR going below 1, Bears Rule Period...)