Tuesday, March 4, 2014

Option Open Interest for 04-03-2014

Inference
Nifty opened flat but saw huge buying interest from the morning and stayed strong to close near the highest point of the day at 6297.95, huge gain of 76.50 points. The broader market was also strong, with 950 advances to 509 declines. Best support for the series now at 6200 level.
  • Call option 6300-6800 added 15.42 lacs huge amount of OI with short covering seen at 6200 and lower strike prices.
  • Put option 6400-5900 added 30.48 lacs huge amount of OI with small profit booking seen at 5700 and lower strike prices.
  • Nifty Open Interest is at 1,45,37,850 up by 10,84,750, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 16,05,925 up by 1,66,325, with increase in price, most probably huge long build-up.
  • FII’s bought huge 11.04 lacs Futures, mostly long build-up, as their net OI increased by 27750 contracts (includes 75538 longs and 53458 shorts for the day) and the average price per contract comes to around 6233.55.
  • FII’s future open contract as on date is 319862.
  • PCR Open Interest (Volume) has increased to 1.191.
  • Initial support now at 6300, with highest addition of 8.90 lacs for the day and below that at 6200 with highest OI of 64.03 lacs.
  • Initial and best resistance at 6400, with huge OI of 50.66 lacs.
  • Day Range as per Option Table is 6233 - 6324 and as per VIX is 6251 - 6345 with 6272 as the Pivot.
Option Call for 05-03-2014
Buy Nifty 6300CE above 98 for targets of 112, 128 SL - 85
Buy Nifty 6300PE above 83 for targets of 101, 127 SL - 78

India VIX : 14.39 down by 0.89 points
Call OI : 29000200
Put OI : 34549550
PCR OI : 1.191
SMR : 12.08 (Bullish: The PE writers are technically in command of the situation with 6200 more or less sealed for the Week; Bears seems to have missed the opportunity for the time being...)