Wednesday, February 5, 2014

Option Open Interest for 05-02-2014

Inference
Nifty opened weak on the back of bad global cues and went on to touch the lows of the day around 5962 but saw the responsive buyers take control from thereon to close the index in green at 6022.40, a small gain of 21.50 points. The broader market was positive, with 852 advances to 571 declines. Best support for the Series now at 6000 Level.
  • Call option 6000-6400 added 6.83 lacs huge amount of OI with profit booking seen at 6700 and above strike prices.
  • Put option 6100-5600 added 17.81 lacs huge amount of OI with small short covering seen at 6200 and above strike prices.
  • Nifty Open Interest is at 1,63,88,300 up by 1,36,950, with small increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 19,75,025 up by 13,375, with increase in price, most probably small long build-up.
  • FII’s sold huge 7.36 lacs Futures, mostly short build-up, as their net OI increased by 13307 contracts (includes 43933 longs and 58662 shorts for the day) and the average price per contract comes to around 5959.48.
  • FII’s future open contract as on date is 400833.
  • PCR Open Interest (Volume) is comfortably placed at 1.347.
  • Initial support getting better at 6000, with highest OI of 75.76 lacs and below that at 5900 with huge OI of 59.18 lacs.
  • Initial resistance at 6100, with huge OI of 43.85 lacs and above that at 6200, with OI of 50.50 lacs.
  • Day Range as per Option Table is 5956 - 6070 and as per VIX is 5963 - 6082 with 6004 as the Pivot.
Option Call for 06-02-2014
Buy Nifty 6000CE above 131 for targets of 144, 157 SL - 122
Buy Nifty 6000PE above 97 for targets of 110, 129 SL - 92

India VIX : 18.93 up by 0.24 points
Call OI : 28437750
Put OI : 38301700
PCR OI : 1.347
SMR : 14.05 (Bearish to Neutral: Bears seem to be losing the game as they are unable to close the index below 6000 for the last 3 days with 6000PE OI now above 75.75 lacs...)