Wednesday, January 29, 2014

Option Open Interest for 29-01-2014

Inference
Nifty opened positive and stayed in the green for the better part of the day, but a small sell-off around the last hour saw the index down towards 6100 level and closed in the Red at 6120.25, a small loss of 6.00 points. The broader market was also weak, with 656 advances to 758 declines. Best support for the expiry is at 6000 Level.
  • Call option 6150 added 1.04 lacs of OI with profit booking seen at 6300 and above strike prices.
  • Put option 6100 added 0.22 lacs small amount of OI with huge short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 86,92,150 down by 21,09,400, whereas Feb series added 18.62 lacs, with small decrease in price, mostly roll-over with small long liquidation.
  • Bank Nifty Open Interest is at 12,15,125 down by 3,65,800, whereas Feb series added 2.41 lacs, with decrease in price, mostly rollover with huge long liquidation.
  • FII’s sold huge 4.45 lacs Futures, mostly long liquidation, as their net OI decreased by 20627 contracts (includes 126643 longs and 135542 shorts for the day) and the average price per contract comes to around 6055.85.
  • FII’s future open contract as on date is 549491.
  • PCR Open Interest (Volume) is just up from yesterday at 0.825.
  • Initial support at 6100, with huge OI of 42.76 lacs and below that at 6000 with highest OI of 48.52 lacs.
  • Initial resistance at 6150, with huge addition for the day at 1.04 lacs and above that at 6200, with OI of 44.10 lacs.
  • Expiry Day Range as per Option Table is 6077 - 6183 and as per VIX is 6062 - 6178 with 6134 as the Pivot.
Preview of Next Series Option Table 

Option Call for 30-01-2014
Buy Nifty 6100CE above 52 for targets of 70, 95 SL - 47
Buy Nifty 6200PE above 84 for targets of 103, 127 SL - 74

India VIX : 18.04 up by 0.32 points
Call OI : 31795950
Put OI : 26243550
PCR OI : 0.825
SMR : 21.86 (Bearish: Another day when the Index stayed positive for most of the session but the Bulls were unable to hold on till end of day, Expiry could be very volatile...)