Monday, February 3, 2014

Option Open Interest for 03-02-2014

Inference
Nifty opened weak around 6060 level, but no buyers came to support the index and Nifty went down with each passing hour to close near the lows of the day at 6001.80, a huge loss of 87.70 points. The broader market was also weak, with just 519 advances to 887 declines. Best support for the series is still at 6000 Level.
  • Call option 5900-6400 added 32.59 lacs huge amount of OI with profit booking seen at 6500 and above strike prices.
  • Put option 6000-5600 added 36.74 lacs huge amount of OI with small short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,60,55,450 down by 1,72,700, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 19,45,825 up by 1,08,100, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 9.62 lacs Futures, mostly long liquidation, as their net OI decreased by 10757 contracts (includes 35607 longs and 54848 shorts for the day) and the average price per contract comes to around 5939.15.
  • FII’s future open contract as on date is 384605.
  • PCR Open Interest (Volume) is still well placed at 1.288.
  • Initial and best support still at 6000, with highest OI of 73.40 lacs and below that at 5900 with huge OI of 42.85 lacs.
  • Initial resistance at 6100, with huge addition for the day at 9.80 lacs and above that at 6200, with OI of 39.05 lacs.
  • Day Range as per Option Table is 5966 - 6072 and as per VIX is 5944 - 6059 with 6024 as the Pivot.
Option Call for 04-02-2014
Buy Nifty 6100CE above 82 for targets of 92, 109 SL - 77
Buy Nifty 6000PE above 86 for targets of 97, 108 SL - 78

India VIX : 18.27 up by 1.45 points
Call OI : 24638650
Put OI : 31746800
PCR OI : 1.288
SMR : 14.18 (Bearish: Nifty is just a few points from 200SMA stationed at 5973, will it hold? OI still the highest at 6000PE level, a onetime bounce is possible...)