Sunday, February 10, 2013

Option Open Interest for 08-02-2013

Inference
It was Fry-day for the Bulls, with the index tanking fast after holding on for the entire morning session, to the lows of the day below the psychological level of 5900 to close just above it at 5903.50, still a big loss of 35.30 points. On a week on week the index lost 95.40 points of about 1.59%, the biggest weekly loss in recent times. The broader market was very weak, with just 437 advances to 1072 declines. OI table still have some support around 5900, but will it hold against the resurgent Bears.
  • Call option 5800-6200 added 22.96 lacs huge amount of OI with small profit booking seen at 6300 and above strike prices.
  • Put Option 5900-5800 and 5600-5500 added 29.54 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6100 at 77.09 lacs & 6200 at 64.73 lacs whereas Put option 5900 at 71.35 lacs & 5800 at 61.35 lacs.
  • Nifty Open Interest is at 1,30,01,350 up by 1,67,750 with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 12,71,875, up by 89,800, with decrease in price, most probably short build-up.
  • FII’s sold huge 5.09 lacs of Futures, most probably long liquidation, as their net OI decreased by 9388 contract and the average price per contract comes to around 5951.
  • FII’s future open contract as on date is 257017.
  • PCR Open Interest (Volume) is still hovering above 1 and now at 1.071.
  • Best support still at 5900PE, with OI now above 71.3 lacs and below that at 5800 with OI of 61.3 lacs.
  • Resistance right now at 6000CE, with huge addition for the day at 8.85 lacs and above that at 6100 with highest OI of 77.1 lacs.
  • Range as per Option Table is 5872 - 5951 and as per VIX is 5857 - 5950 with 5920 as the Pivot.
Option Call for 11-02-2013
Buy Nifty 6000CE above 46 for targets of 55, 69 SL - 43
Buy Nifty 5900PE above 65 for targets of 78, 93 SL - 61

India VIX : 15.16 up by 0.27 points
Call OI : 32463900
Put OI : 34774650
PCR OI : 1.071
SMR : 14.15 (Bearish: Bears in full control of the Option Table, though 5900 level still has good support, Monday could show us the way if the 5900PE writers are still holding on...)