Monday, February 4, 2013

Option Open Interest for 04-02-2013

Inference
The index opened positive on the back of good global cues, but was sold off after a small period of consolidation to the lows of the day at 5981 and closed just above at 5987.25, a loss of 11.65 points. The broader market was very weak in comparison, with 524 advances to 978 declines. The OI Table for the first time after many months saw the PCR (volume based) going below 1 to settle at 0.979.
  • Call option 5900-6300 added 39.85 lacs huge amount of OI with small short covering seen at 5700 and lower strike prices.
  • Put Option 6000-5600 added 17.94 lacs huge amount of OI with small short covering seen at 6100 and above strike prices.
  • Highest accumulation on Call option 6300 at 55.75 lacs & 6100 at 53.13 lacs whereas Put option 5700 at 46.48 lacs & 6000 at 46.46 lacs.
  • Nifty Open Interest is at 1,31,84,550 up by 5,96,600 with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 11,87,600, up by 93,250, with decrease in price, most probably short build-up.
  • FII’s sold huge 11.79 lacs of Futures, most probably short build-up, as their net OI increased by 39348 contract and the average price per contract comes to around 6022.
  • FII’s future open contract as on date is 273957.
  • PCR Open Interest (Volume) is just dipped below 1 for the first time this series and now at 0.979.
  • Nearest Support at 5900PE, with OI above 41.7 lacs and below that at 5700 with OI of 46.5 lacs.
  • Huge resistance at 6100CE, with OI above 53.1 lacs, and above that at 6200 with OI of 45.5 lacs.
  • Range as per Option Table is 5960 - 6037 and as per VIX is 5942 - 6032 with 6010 as the Pivot.
Option Call for 05-02-2013
Buy Nifty 6000CE above 91 for targets of 105, 133 SL - 87
Buy Nifty 6000PE above 81 for targets of 91, 102 SL - 73

India VIX : 14.34 up by 0.58 points
Call OI : 26398550
Put OI : 25832300
PCR OI : 0.979
SMR : 14.65 (Bearish: PCR below 1, SMR around 15, looks like the Bears are tightening the noose, will the Bulls be able to break free and come back stronger. Well tomorrow could be day for the answer everyone is looking for...)