Thursday, February 7, 2013

Option Open Interest for 07-02-2013

Inference
Nifty opened weak around 5940, but covered ground fast to move above previous day close to touch highs of 5980. The initiative sellers came back to move the index back into negative territory to close near the open at 5938.80, a loss of 20.40, a DOJI. The broader market also was very weak, with just 438 advances to 1057 declines. OI table is in a sea of Red with 6100 level turning out to be huge resistance.
  • Call option 5900-6300 added 25.52 lacs huge amount of OI with small profit booking seen at 6400 and above strike prices.
  • Put Option 6000-5600 added 26.21 lacs huge amount of OI with short covering seen at 6100 and above strike prices.
  • Highest accumulation on Call option 6100 at 74.40 lacs & 6200 at 61.27 lacs whereas Put option 5700 at 61.75 lacs & 5900 at 60.80 lacs.
  • Nifty Open Interest is at 1,28,33,600 down by 75,650 with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 11,82,075, down by 4,950, with decrease in price, most probably long liquidation.
  • FII’s sold huge 1.82 lacs of Futures, most probably long liquidation, as their net OI decreased by 2615 contract and the average price per contract comes to around 5987.
  • FII’s future open contract as on date is 266405.
  • PCR Open Interest (Volume) is still above 1 at 1.060.
  • Support still very much at 5900PE, with OI now above 60.8 lacs and below that at 5700 with OI of 61.7 lacs.
  • Initial resistance right now at 6000CE, with huge addition for the day at 6.5 lacs and above that at 6100 with highest OI of 74.4 lacs.
  • Range as per Option Table is 5910 - 5984 and as per VIX is 5893 - 5985 with 5960 as the Pivot.
Option Call for 08-02-2013
Buy Nifty 6000CE above 58 for targets of 67, 80 SL - 54
Buy Nifty 6000PE above 94 for targets of 108, 124 SL - 90

India VIX : 14.89 up by 0.63
Call OI : 30622150
Put OI : 32450500
PCR OI : 1.060
SMR : 14.05 (Bearish: Bears are going about their job with ease. They have more or less secured 6100 for the time being and now eyeing 6000 strike, Bulls seems happy fortifying 5900 level...)