Thursday, March 13, 2014

Option Open Interest for 13-03-2014

Inference
Nifty opened weak but saw huge buying interest near the lows to move the index to the highest point at 6561. The index stayed in a narrow range but saw huge sell-off in the last hour to close near the lows of the day at 6493.10, a small loss of 23.80 points. The broader market was also weak, with 608 advances to 850 declines. Best support for the series still at 6400.
  • Call option 6500-6900 added 9.21 lacs huge amount of OI with short covering seen at 6400 and lower strike prices.
  • Put option 6500 added 3.29 lacs huge amount of OI with profit booking seen at 6300 and lower strike prices.
  • Nifty Open Interest is at 1,94,11,500 up by 7,90,400, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 21,24,900 up by 27,275, with increase in price, most probably small long build-up.
  • FII’s bought huge 6.64 lacs Futures, mostly longt build-up, as their net OI increased by 33916 contracts (includes 63212 longs to 49938 shorts for the day) and the average price per contract comes to around 6471.11.
  • FII’s future open contract as on date is 487795.
  • PCR Open Interest (Volume) has moved down to 1.442.
  • Initial support still at 6500, with huge OI of 54.21 lacs and below that at 6400 with highest OI of 66.51 lacs.
  • Initial and best Resistance at 6600, with OI of 46.46 lacs.
  • Day Range as per Option Table is 6452 - 6559 and as per VIX is 6436 - 6550 with 6510 as the Pivot.
Option Call for 14-03-2014
Buy Nifty 6500CE above 93 for targets of 113, 145 SL - 89
Buy Nifty 6500PE above 64 for targets of 76, 89 SL - 57

India VIX : 16.82 down by 0.22 points
Call OI : 33559800
Put OI : 448381050
PCR OI : 1.442
SMR : 11.67 (Bullish: Though Nifty closed below the psychological level of 6500, but technically still not much of weakness seen, need follow-up action by the Bears if they want to take charge...)

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