Monday, February 17, 2014

Option Open Interest for 17-02-2014

Inference
Nifty opened positive and went on to touch 6079 within the first few minutes of trade, but saw a dip towards 6040 as the Interim Budget was on. The index saw the buyers back in action and closed positive at 6073.30, gain of 24.95 points. The broader market though was weak, with 582 advances to 824 declines. Super support for the Series is at 6000PE with OI now above 1 crore.
  • Call option 6100-6200 added 3.01 lacs huge amount of OI with short covering seen at 6000 and lower strike prices.
  • Put option 6200-6000, 5800 added 22.62 lacs huge amount of OI with profit booking seen at 5700 and lower strike prices.
  • Nifty Open Interest is at 1,62,53,750 up by 48,550, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 16,62,100 down by 42,300, with increase in price, most probably huge short covering.
  • FII’s bought 3.93 lacs Futures, mostly long build-up, as their net OI increased by 2879 contracts (includes 38790 longs and 30931 shorts for the day) and the average price per contract comes to around 6004.76.
  • FII’s future open contract as on date is 389051.
  • PCR Open Interest (Volume) is moving up and now at 1.289.
  • Super Best support at 6000, with highest OI of 1.00 Crore and below that at 5900 with huge OI of 57.80 lacs.
  • Initial resistance still at 6100, with OI of just 48.50 lacs and above that at 6200, with huge OI of 65.61 lacs.
  • Day Range as per Option Table is 6021 - 6113 and as per VIX is 6023 - 6124 with 6064 as the Pivot.
Option Call for 18-02-2014
Buy Nifty 6100CE above 50 for targets of 59, 70 SL - 45
Buy Nifty 6100PE above 71 for targets of 86, 104 SL - 67

India VIX : 15.83 down by 0.83 points
Call OI : 33324850
Put OI : 42947300
PCR OI : 1.289
SMR : 12.28 (Neutral to Bullish: Bulls have made a great comeback after being in the dumps for better part of the series and now need a breakout above 6100 level for more gains...)