Thursday, February 6, 2014

Option Open Interest for 06-02-2014

Inference
Nifty opened flat to positive and made a high around 6048 within the first hour of trade but saw huge selling, which took the index to the lows of the day within a few minutes. The responsive buyers took control from thereon to close the index in green at 6036.30, a small gain of 13.90 points. The broader market though was weak, with 663 advances to 731 declines. Best support for the Series still at 6000 Level.
  • Call option 6000, 6200-6500 added 11.31 lacs huge amount of OI with profit booking seen at 6600 and above strike prices.
  • Put option 5900-5600 added 11.57 lacs huge amount of OI with small short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,60,47,050 down by 3,41,250, with small increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 19,91,100 up by 16,075, with decrease in price, most probably small short build-up.
  • FII’s sold huge 4.09 lacs Futures, mostly long liquidation, as their net OI decreased by 312 contracts (includes 47442 longs and 55628 shorts for the day) and the average price per contract comes to around 5953.93.
  • FII’s future open contract as on date is 400521.
  • PCR Open Interest (Volume) is comfortably placed at 1.348.
  • Initial and best support at 6000, with highest OI of 75.58 lacs and below that at 5900 with huge OI of 65.43 lacs.
  • Initial resistance at 6100, with huge OI of 42.23 lacs and above that at 6200, with OI of 53.57 lacs.
  • Day Range as per Option Table is 5968 - 6083 and as per VIX is 5976 - 6096 with 6017 as the Pivot.
Option Call for 07-02-2014
Buy Nifty 6100CE above 86 for targets of 105, 129 SL - 80
Buy Nifty 6000PE above 96 for targets of 115, 146 SL - 89

India VIX : 18.94 up by 0.01 points
Call OI : 29737050
Put OI : 40098150
PCR OI : 1.348
SMR : 14.05 (Bearish to Neutral: This is the 4th day in a Row that the index went below 6000 in intraday but the Bears were unable to close below it, Bulls are steadily coming back with 6000PE OI still the highest at 75.58 lacs...)