Friday, February 21, 2014

Option Open Interest for 21-02-2014

As per Option Pain Data, the Range of 6100-6150 will have the most Pain...
Inference
Nifty opened positive above 6100 and immediately got the support of the buyers to move higher around 6145. A range bound consolidation ended with short covering, which saw the Index close around the highs at 6155.45, a huge gain of 64.00 points. On a week on week basis the index gained 107.10 points or about 1.77%. The broader market was also strong, with 847 advances to 554 declines. Super support for the Series is at 6000PE with OI at 1.08 crore.
  • Call option did not add any OI whereas huge short covering was seen at 6100 and below strike prices.
  • Put option 6200-6100 added 24.53 lacs huge amount of OI with profit booking seen at 6000 and below strike prices.
  • Nifty Open Interest is at 1,39,72,750 down by 9,01,300, whereas March series added 8.82 lacs with increase in price, most probably rollover with small short covering.
  • Bank Nifty Open Interest is at 14,70,475 down by 1,18,075, whereas March series added 2.46 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • FII’s bought huge 3.64 lacs Futures, mostly long build-up, as their net OI increased by 15249 contracts (includes 64693 longs and 57412 shorts for the day) and the average price per contract comes to around 6043.22.
  • FII’s future open contract as on date is 411071.
  • PCR Open Interest (Volume) is at the highest point of the series at 1.574.
  • Initial support at 6100, with huge OI of 63.40 lacs and below that at 6000 with highest OI of 1.08 Crore.
  • Initial and best resistance at 6200, with huge OI of 51.44 lacs and above that at 6300, with OI of 46.63 lacs.
  • Day Range as per Option Table is 6100 - 6189 and as per VIX is 6110 - 6201 with 6141 as the Pivot.
Option Call for 24-02-2014
Buy Nifty 6100CE above 74 for targets of 85, 98 SL - 66
Buy Nifty 6200PE above 59 for targets of 78, 105 SL - 54

India VIX : 14.04 down by 1.12 points
Call OI : 28411100
Put OI : 44713250
PCR OI : 1.574
SMR : 8.92 (Bullish: Bulls gave it back to the Bears with complete reversal of yesterday’s downside with the PE writers making merry at 6100 level, holding it can see Expiry around the highs of the Month...)