Tuesday, February 4, 2014

Option Open Interest for 04-02-2014

Inference
Nifty opened weak on the back of bad global cues around 5947 and after an initial dip towards the low of the day saw the buyer back to take control and moved the index back above 6000 to close at 6000.90, a miniscule loss of 0.90 points. The broader market was just weak, with 699 advances to 710 declines. Best support still at 6000 Level.
  • Call option 5800-6200 added 28.59 lacs huge amount of OI with profit booking seen at 6300 and above strike prices.
  • Put option 5900-5600 added 26.79 lacs huge amount of OI with short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 1,62,51,350 up by 1,95,900, with no change in price, most probably short build-up.
  • Bank Nifty Open Interest is at 19,61,650 up by 15,825, with increase in price, most probably small long build-up.
  • FII’s sold huge 4.51 lacs Futures, mostly short build-up, as their net OI increased by 2921 contracts (includes 67297 longs and 76320 shorts for the day) and the average price per contract comes to around 5942.07.
  • FII’s future open contract as on date is 387526.
  • PCR Open Interest (Volume) has moved up to 1.311.
  • Initial and best support still at 6000, with highest OI of 69.92 lacs and below that at 5900 with huge OI of 56.00 lacs.
  • Initial resistance at 6100, with huge OI of 41.29 lacs and above that at 6200, with OI of 49.59 lacs.
  • Day Range as per Option Table is 5935 - 6050 and as per VIX is 5942 - 6060 with 5984 as the Pivot.
Option Call for 05-02-2014
Buy Nifty 6000CE above 128 for targets of 147, 167 SL - 113
Buy Nifty 6000PE above 102 for targets of 115, 138 SL - 97

India VIX : 18.69 up by 0.42 points
Call OI : 27498000
Put OI : 36047850
PCR OI : 1.311
SMR : 14.26 (Bearish: Nifty for the second day in a row went below 6000, but closed just above it, the OI at 6000PE is still the highest; holding above can see some corrective bounce...)