Monday, February 10, 2014

Option Open Interest for 10-02-2014

Inference
Nifty opened flat to positive but profit booking saw it down towards 6050, from there onwards the index stayed in a very narrow range of 20 points but closed weak around the lows of the day at 6053.45, loss of 9.75 points. The broader market was also weak, with 668 advances to 730 declines. Best support for the Series at 6000PE with OI now at 87.1 lacs.
  • Call option 6100-6300 added 7.65 lacs huge amount of OI with profit booking seen at 6500 and above strike prices.
  • Put option 6100-5900 added 6.58 lacs huge amount of OI with profit booking seen at 5800 and below strike prices.
  • Nifty Open Interest is at 1,54,34,050 up by 41,650, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 19,04,250 down by 9,725, with decrease in price, most probably long liquidation.
  • FII’s bought small 0.77 lacs Futures, mostly short covering, as their net OI decreased by 5535 contracts (includes 27089 longs and 25550 shorts for the day) and the average price per contract comes to around 5973.79.
  • FII’s future open contract as on date is 369426.
  • PCR Open Interest (Volume) is still good at 1.292.
  • Initial and super support at 6000, with highest OI of 87.13 lacs and below that at 5900 with huge OI of 70.38 lacs.
  • Initial resistance at 6100, with huge OI of 53.11 lacs and above that at 6200, with OI of 62.43 lacs.
  • Day Range as per Option Table is 6011 - 6108 and as per VIX is 5993 - 6114 with 6061 as the Pivot.
Option Call for 11-02-2014
Buy Nifty 6100CE above 80 for targets of 93, 112 SL - 75
Buy Nifty 6000PE above 70 for targets of 77, 84 SL - 65

India VIX : 19.05 up by 0.50 points
Call OI : 33537550
Put OI : 43316750
PCR OI : 1.292
SMR : 14.75 (Neutral: Last week Bears were unable to press the index below 6000 and at the start of this week the Bulls are unable to scale 6100, Range stays with highest concentration at 6000 and 6100 Level...)