Sunday, January 6, 2013

Option Open Interest for 04-01-2013

Inference
A small gap-down saw weakness in the index throughout the first half and a spirited attempt in the second half by the responsive buyers saw Nifty close in the positive at 6016.15 a gain of just 6.65 points. On a week-on-week basis the index gained 107.80 points or about 1.82% and a first weekly close above 6000 in 2 years. The broader market was a bit weak, with 757 advances to 776 declines. The OI Table saw wholesome addition at 6100-5700PE levels with support shifting to 5900 right now.
  • Call option 6100 added 2.98 lacs huge amount of OI with some short covering seen at 6000 and below strike prices.
  • Put Option 6100-5700 added 19.83 lacs huge amount of OI with profit booking seen at 5500 and lower levels.
  • Highest accumulation on Call option 6200 at 80.2 lacs & 6100 at 50.2 lacs whereas Put option 5800 at 63.8 lacs & 5700 at 62.8 lacs.
  • Nifty Open Interest is at 1,67,86,050 down by 3,53,450, with small increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 11,57,075 down by 10,625, with small increase in price, most probably short covering.
  • FII’s sold huge 4.16 lacs of Futures, most probably long liquidation, as their net OI decreased by 6193 contract and the average price per contract comes to around 6051.
  • FII’s future open contract as on date is 257366.
  • PCR Open Interest (Volume) has jumped to 1.294 due to huge liquidation in most CE levels.
  • Support at 5900PE with OI above 58 lacs and below that at 5800 with OI of 63.8 lacs.
  • Resistance still at 6100CE, with OI above 50.2 lacs, and above that at 6200 with highest OI of 80.2 lacs.
  • Range as per Option Table is 5967 - 6050 and as per VIX is 5974 - 6058 with 6000 as the Pivot.
Option Call for 07-01-2013
Buy Nifty 6100CE above 54 for targets of 60, 70 SL - 50
Buy Nifty 6000PE above 63 for targets of 69, 80 SL - 59

India VIX : 13.37 down by 0.10 points
Call OI : 32266050
Put OI : 41747250
PCR OI : 1.294
SMR : 10.33 (Bullish: Bulls though looked vulnerable throughout the day, made amends when it mattered most to close in positive and a weekly close above 6000 in more than 2 years. Bears right now are unable to make any dent in the Option Table but stay cautious at higher levels...)