Tuesday, March 18, 2014

Option Open Interest for 18-03-2014

Inference
Nifty opened strong and went on test the highs of the day within the first hour of trade. Profit booking from higher levels saw the index losing all gains and closing at 6516.65, a small gain of 12.45 points. The broader market was strong, with 854 advances to 626 declines. Best support for the series still at 6400.
  • Call option 6600-6700 added 11.44 lacs huge amount of OI with short covering seen at 6400 and lower strike prices.
  • Put option 6700-6500 added 5.63 lacs huge amount of OI with profit booking seen at 6200 and lower strike prices.
  • Nifty Open Interest is at 1,96,60,100 up by 2,85,700, with small increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 18,68,775 down by 49,050, with increase in price, most probably short covering.
  • FII’s bought huge 6.36 lacs Futures, mostly short covering, as their net OI decreased by 428 contracts (includes 64759 longs to 52041 shorts for the day) and the average price per contract comes to around 6500.77.
  • FII’s future open contract as on date is 494623.
  • PCR Open Interest (Volume) has moved down to 1.368.
  • Initial support at 6500, with huge OI of 54.18 lacs and below that at 6400 with highest OI of 62.24 lacs.
  • Initial and best Resistance at 6600, with OI of 51.87 lacs.
  • Day Range as per Option Table is 6471 - 6581 and as per VIX is 6458 - 6575 with 6530 as the Pivot.
Option Call for 19-03-2014

India VIX : 17.13 up by 0.68 points
Call OI : 34516950
Put OI : 47207450
PCR OI : 1.368
SMR : 12.53 (Bullish: Nifty Future did touch 6600 for the day, but profit booking from higher levels spooked the index, Bulls are still very much in control of the situation with OI Table support at 6500...)