Thursday, January 30, 2014

Option Open Interest for 30-01-2014

Inference
Nifty opened weak on the back of bad global cues and stayed weak for the better part of the day and saw some Expiry short covering rally towards the end but still closed red at 6073.70, a huge loss of 46.55 points. The broader market was very weak, with just 339 advances to 1082 declines. Best support at the start of the series is around 6000 Level.
  • Call option 5700-6400 added 29.98 lacs huge amount of OI with profit booking seen at 6700 and above strike prices.
  • Put option 6100-5600 added 39.66 lacs huge amount of OI with short covering seen at 6200 strike price.
  • Nifty Open Interest is at 1,59,55,850 up by 17,49,850, with decrease in price, mostly roll-over from previous series.
  • Bank Nifty Open Interest is at 18,54,450 up by 7,05,275, with decrease in price, mostly roll-over from previous series and huge short build-up.
  • FII’s sold huge 15.21 lacs Futures, mostly long liquidation, as their net OI decreased by 171112 contracts (includes 132073 longs and 162492 shorts for the day) and the average price per contract comes to around 6002.54.
  • FII’s future open contract as on date is 378379.
  • PCR Open Interest (Volume) at start of series is at 1.267.
  • Initial and best support is at 6000, with highest OI of 47.99 lacs and below that at 5900 with huge OI of 28.64 lacs.
  • Initial resistance at 6200, with huge addition for the day at 5.72 lacs and above that at 6300, with OI of 30.80 lacs.
  • Day Range as per Option Table is 6010 - 6122 and as per VIX is 6019 - 6129 with 6061 as the Pivot.
Option Call for 31-01-2014
Buy Nifty 6200CE above 63 for targets of 71, 80 SL - 59
Buy Nifty 6200PE above 71 for targets of 79, 93 SL - 66

India VIX : 17.25 down by 0.79 points
Call OI : 19121200
Put OI : 24232650
PCR OI : 1.267
SMR : 13.61 (Bearish: A new series starts with a better Option Table outlook for the Bulls though the scenario is still Bearish with the index just a few points from 200 SMA...)