Wednesday, February 6, 2013

Option Open Interest for 06-02-2013

Inference
Nifty opened strong on the back of good global cues, but after initial up-move was sold off towards the lows of the day around 5950 to close just above at 5959.20 a very small gain of 2.30 points, breaking the losing streak of 5 days. The broader market after many days performed well, with 761 advances to 731 declines. Huge resistance developing around 6100 level with OI now above 64 lacs.
  • Call option 5900-6300 added 22.65 lacs huge amount of OI with small profit booking seen at 6400 and above strike prices.
  • Put Option 5900-5600 added 13.00 lacs huge amount of OI with short covering seen at 6200 and above strike prices.
  • Highest accumulation on Call option 6100 at 64.00 lacs & 6200 at 56.78 lacs whereas Put option 5700 at 59.67 lacs & 5900 at 53.43 lacs.
  • Nifty Open Interest is at 1,29,09,250 down by 1,39,250 with no change in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 11,87,025, up by 14,825, with decrease in price, most probably short build-up.
  • FII’s sold huge 9.45 lacs of Futures, most probably long liquidation, as their net OI decreased by 11282 contract and the average price per contract comes to around 5998.
  • FII’s future open contract as on date is 269020.
  • PCR Open Interest (Volume) is just above 1 at 1.058.
  • Support still at 5900PE, with OI above 53.4 lacs and below that at 5700 with OI of 59.7 lacs.
  • Resistance getting bigger by the day at 6100CE, with OI now above 64.0 lacs, and above that at 6200 with OI of 56.8 lacs.
  • Range as per Option Table is 5930 - 6003 and as per VIX is 5915 - 6004 with 5980 as the Pivot.
Option Call for 07-02-2013
Buy Nifty 6000CE above 65 for targets of 71, 80 SL - 62
Buy Nifty 6000PE above 88 for targets of 94, 102 SL - 85

India VIX : 14.26 down by 0.35 points
Call OI : 28255900
Put OI : 29883800
PCR OI : 1.058
SMR : 13.48 (Bearish: Bulls though unable to move price higher are making sure that the lower levels are at least secured whereas Bears are very much in control at 6100 and above. Its tussle time at 6000 right now...)