Friday, January 31, 2014

Option Open Interest for 31-01-2014

Inference
Nifty opened flat to positive and stayed in a very small range of 30 points for the entire session but closed in green after 5 negative days to close at 6089.50, a small gain of 15.80 points. On a week on week basis the index lost huge 177.25 points or around 2.83%. The broader market was strong, with 921 advances to 487 declines. Best support for the series is around 6000 Level.
  • Call option 6100-6500 added 16.11 lacs huge amount of OI with profit booking seen at 6600 and above strike prices.
  • Put option 6100-5600 added 34.60 lacs huge amount of OI with small short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 1,62,28,150 up by 2,72,300, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 18,37,725 down by 16,725, with increase in price, most probably short covering.
  • FII’s sold huge 4.30 lacs Futures, mostly short build-up, as their net OI increased by 16983 contracts (includes 54267 longs and 62858 shorts for the day) and the average price per contract comes to around 6017.98.
  • FII’s future open contract as on date is 395362.
  • PCR Open Interest (Volume) is at healthy 1.336.
  • Initial and best support at 6000, with highest OI of 57.54 lacs and below that at 5900 with huge OI of 35.60 lacs.
  • Initial resistance at 6200, with huge addition for the day at 5.95 lacs and above that at 6300, with OI of 31.69 lacs.
  • Day Range as per Option Table is 6035 - 6139 and as per VIX is 6036 - 6143 with 6000 as the Pivot.
Option Call for 03-02-2014
Buy Nifty 6200CE above 61 for targets of 69, 79 SL - 57
Buy Nifty 6100PE above 97 for targets of 105, 116 SL - 91

India VIX : 16.82 down by 0.43 points
Call OI : 20994150
Put OI : 28057600
PCR OI : 1.336
SMR : 12.59 (Bearish to Neutral: Bears still have upper hand with price below most short and long term averages but Bulls have made sure that the level of 6000 won’t go in a hurry with OI now above 57.5 lacs...)