Wednesday, February 19, 2014

Option Open Interest for 19-02-2014

Inference
Nifty opened flat and stayed within a narrow range of 10 points with positive bias for the better part of the day, a huge short covering towards the end of the day saw the index close near the high point at 6152.75, gain of 25.65 points. The broader market was also positive, with 777 advances to 652 declines. Super support for the Series is at 6000PE with OI now at 1.17 crore.
  • Call option 6300-6400 added 2.08 lacs huge amount of OI with huge short covering was seen at 6100 and lower strike prices.
  • Put option 6200-5900 added 26.51 lacs huge amount of OI with profit booking seen at 5800 and lower strike prices.
  • Nifty Open Interest is at 1,56,91,650 up by 8,450, whereas March series added 3.29 lacs with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 16,27,425 down by 55,725, whereas March series added 0.35 lacs with increase in price, most probably long liquidation with some rollover.
  • FII’s bought 2.90 lacs Futures, mostly short covering, as their net OI decreased by 2674 contracts (includes 36219 longs and 30423 shorts for the day) and the average price per contract comes to around 6064.58.
  • FII’s future open contract as on date is 386700.
  • PCR Open Interest (Volume) has jumped to 1.530.
  • Initial support getting better at 6100, with huge OI of 58.34 lacs and below that at 6000 with highest OI of 1.17 Crore.
  • Initial and best resistance still at 6200 though getting weaker, with OI of 54.24 lacs and above that at 6300, with OI of 50.00 lacs.
  • Day Range as per Option Table is 6102 - 6192 and as per VIX is 6104 - 6201 with 6146 as the Pivot.
Option Call for 20-02-2014
Buy Nifty 6100CE above 79 for targets of 89, 100 SL - 74
Buy Nifty 6200PE above 71 for targets of 81, 95 SL - 67

India VIX : 15.07 down by 0.34 points
Call OI : 30976450
Put OI : 47404350
PCR OI : 1.530
SMR : 9.85 (Bullish: Slowly and steadily Bulls have taken a solid grip over the Option Table with support moving up to 6100, Bears need to come back in the next 2 days else can see expiry above 6200 level...)