Thursday, February 27, 2014

Option Open Interest for 26-02-2014

Inference
Nifty opened flat just above 6200 and went up with each passing hour to end February month expiry at the highest point of the month at 6238.80, a gain of 38.75 points. The broader market though was negative, with 693 advances to 749 declines. Developing range for the Series is around 6000-6400.
  • Call option 5700-6600 added 33.63 lacs huge amount of OI with not much change in other strike prices.
  • Put option 6600-5700 added 44.28 lacs huge amount of OI with not much change in other strike prices.
  • Nifty Open Interest is at 1,36,07,150 up by 44,84,150, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 14,81,350 up by 4,09,950, with increase in price, most probably huge long build-up.
  • FII’s bought huge 22.05 lacs Futures, mostly short covering, as their net OI decreased by 184579 contracts (includes 126678 longs and 82570 shorts for the day) and the average price per contract comes to around 6155.83.
  • FII’s future open contract as on date is 293658.
  • PCR Open Interest (Volume) at start of series is at 1.127.
  • Initial support at 6200, with huge OI of 37.49 lacs and below that at 6100 with highest OI of 40.00 lacs.
  • Initial and best resistance at 6300, with huge OI of 34.94 lacs and above that at 6400, with OI of 31.76 lacs.
  • Day Range as per Option Table is 6184 - 6273 and as per VIX is 6193 - 6284 with 6229 as the Pivot.
Option Call for 28-02-2014
Buy Nifty 6200CE above 72 for targets of 77, 86 SL - 68
Buy Nifty 6200PE above 64 for targets of 69, 78 SL - 59

India VIX : 13.96 up by 0.01 points
Call OI : 21706550
Put OI : 24464000
PCR OI : 1.127
SMR : 12.39 (Bullish: Bulls ended February expiry at the highs and have made a good start to the new series with base building at 6100 level, Bears need to come back fast or else can see a good positive trend for March...)