Friday, February 7, 2014

Option Open Interest for 07-02-2014

Inference
Nifty opened strong on the back of good global cues and went on to touch the highs around 6080. A bout of profit booking, and the index nose-dived towards the lows of the day at 6030 but renewed buying at lower levels saw the index close at 6063.20, gain of 26.90 points. On a week on week basis the index lost 26.30 points or approx 0.43%.The broader market was positive, with 808 advances to 625 declines. Best support for the Series at 6000 Level with OI now at 83.4 lacs.
  • Call option 6100-6500 added 27.86 lacs huge amount of OI with profit booking seen at 6700 and above strike prices.
  • Put option 6100-5900 added 17.04 lacs huge amount of OI with profit booking seen at 5800 and below strike prices.
  • Nifty Open Interest is at 1,53,92,400 down by 6,54,650, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 19,13,975 down by 77,125, with increase in price, most probably huge short covering.
  • FII’s bought small 0.68 lacs Futures, mostly short covering, as their net OI decreased by 25560 contracts (includes 48142 longs and 46786 shorts for the day) and the average price per contract comes to around 5979.43.
  • FII’s future open contract as on date is 374961.
  • PCR Open Interest (Volume) is still well placed at 1.294.
  • Initial and best support getting better at 6000, with highest OI of 83.37 lacs and below that at 5900 with huge OI of 69.46 lacs.
  • Initial resistance at 6100, with huge OI of 48.23 lacs and above that at 6200, with OI of 61.93 lacs.
  • Day Range as per Option Table is 6008 - 6112 and as per VIX is 6004 - 6122 with 6058 as the Pivot.
Option Call for 10-02-2014
Buy Nifty 6100CE above 83 for targets of 98, 113 SL - 78
Buy Nifty 6000PE above 73 for targets of 85, 100 SL - 69

India VIX : 18.55 down by 0.39 points
Call OI : 32630100
Put OI : 42218800
PCR OI : 1.294
SMR : 14.34 (Neutral: The Bulls have crawled back and now in a position to move higher on the base of 6000PE OI, Bears got ample chance but missed the killer instinct...)