Tuesday, February 25, 2014

Option Open Interest for 25-02-2014

Inference
Nifty opened positive above the psychological level of 6200 but drifted down with each passing hour to lows of the day at 6176, but a small pullback during the afternoon session saw the index close above 6200 for the first time this month at 6200.05, a small gain of 13.95 points. The broader market though was negative, with 668 advances to 753 declines. Initial Support is developing at 6000 level for the next series.
  • Call option 6250 added 15.27 lacs huge amount of OI with huge short covering seen at 6200 and below strike prices.
  • Put option 6300-6150 added 13.00 lacs huge amount of OI with profit booking seen at 6100 and below strike prices.
  • Nifty Open Interest is at 97,77,800 down by 26,00,850, whereas March series added 32.90 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 12,64,350 down by 1,20,300, whereas March series added 2.31 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • FII’s bought huge 16.65 lacs Futures, mostly long build-up, as their net OI increased by 37423 contracts (includes 151991 longs and 118684 shorts for the day) and the average price per contract comes to around 6090.79.
  • FII’s future open contract as on date is 478237.
  • PCR Open Interest (Volume) made a new high at 1.696.
  • Initial support at 6150, with huge addition for the day at 5.08 lacs and below that at 6100 with huge OI of 61.14 lacs.
  • Initial resistance at 6250, with huge addition for the day at 15.27 lacs and above that at 6300, with OI of 45.39 lacs.
  • Expiry Day Range as per Option Table is 6153 - 6243 and as per VIX is 6155 - 6245 with 6198 as the Pivot.
Sneak Preview of Next Months Open Interest
Option Call for 26-02-2014
Buy Nifty 6200CE above 24 for targets of 35, 46 SL - 19
Buy Nifty 6200PE above 21 for targets of 28, 40 SL - 17

India VIX : 13.95 down by 0.41 points
Call OI : 24675300
Put OI : 41837600
PCR OI : 1.696
SMR : 8.23 (Bullish: Bulls are comfortably holding onto the gains and may see a range bound move on Expiry day tomorrow within the range of 6160-6250, with Bullish Bias...)