Saturday, February 2, 2013

Option Open Interest for 01-02-2013

Inference
The index opened flat to positive but was sold off to the day’s low at 5983 and closed just below the psychological level of 6000 for the first time after 12 days at 5998.90, a loss of 35.85 points. The broader market was also weak, with 633 advances to 859 declines. The OI Table has added highest OI at 6100CE for the day.
  • Call option 6000-6500 added 31.18 lacs huge amount of OI with small short covering seen at 5900 and lower strike prices.
  • Put Option 6100-5500 added 45.18 lacs huge amount of OI with small short covering seen at 6200 and above strike prices.
  • Highest accumulation on Call option 6100 at 44.98 lacs & 6200 at 43.56 lacs whereas Put option 5700 at 45.27 lacs & 6000 at 43.93 lacs.
  • Nifty Open Interest is at 1,25,87,950 up by 5,58,950 with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 10,94,350, up by 42,875, with decrease in price, most probably short build-up.
  • FII’s sold huge 1.61 lacs of Futures, most probably long liquidation, as their net OI decreased by 1810 contract and the average price per contract comes to around 6067.
  • FII’s future open contract as on date is 234609.
  • PCR Open Interest (Volume) is just above 1 at 1.079.
  • Support still at 6000PE, with OI above 43.9 lacs and below that at 5900 with OI of 32.1 lacs.
  • Huge resistance right now at 6100CE, with OI above 44.9 lacs, and above that at 6200 with OI of 43.6 lacs.
  • Range as per Option Table is 5969 - 6048 and as per VIX is 5956 - 6042 with 6020 as the Pivot.
Option Call for 31-01-2013
Buy Nifty 6100CE above 60 for targets of 68, 83 SL - 57
Buy Nifty 6000PE above 67 for targets of 74, 81 SL - 64

India VIX : 13.76 down by 0.37
Call OI : 22362700
Put OI : 24127000
PCR OI : 1.079
SMR : 12.75 (Bearish to Neutral: Nifty after staying above 6000 for better part of January, gave it up on the 1st day of February, is it the start of the bigger correction or just a Dip, can Monday trading give us the answer???)