Monday, February 11, 2013

Option Open Interest for 11-02-2013

Inference
After the huge sell-off witnessed on Friday, it was dull day of trade with the index within a very small range of 45, oscillating around the previous day’s close. Nifty ultimately shut shop flat at 5897.85, a minuscule loss of 5.65 points, but in the process closed below the psychological level of 5900 for the first time this year. The broader market was weak, with 617 advances to 894 declines. Some chinks have been seen at 5900PE, with OI decreasing for the first time in the series.
  • Call option 5800-6000, 6200 added 12.44 lacs huge amount of OI with small profit booking seen at 6100 strike price.
  • Put Option 5800 and 5600-5500 added 14.04 lacs huge amount of OI with short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6100 at 74.29 lacs & 6200 at 68.58 lacs whereas Put option 5900 at 68.70 lacs & 5800 at 65.32 lacs.
  • Nifty Open Interest is at 1,3,14,250 up by 1,12,900 with no change in price, most probably long build-up.
  • Bank Nifty Open Interest is at 12,52,825, down by 19,050, with increase in price, most probably short covering.
  • FII’s bought huge 5.35 lacs of Futures, most probably long build-up, as their net OI increased by 22916 contract and the average price per contract comes to around 5952.
  • FII’s future open contract as on date is 279933.
  • PCR Open Interest (Volume) is still at 1.048.
  • Best support right now at 5900PE, with OI now above 68.7 lacs and below that at 5800 with OI of 65.3 lacs.
  • Resistance getting better at 6000CE, with OI now above 58.9 lacs and above that at 6100 with highest OI of 74.3 lacs.
  • Range as per Option Table is 5861 - 5939 and as per VIX is 5850 - 5946 with 5910 as the Pivot.
Option Call for 12-02-2013
Buy Nifty 5900CE above 83 for targets of 90, 98 SL - 79
Buy Nifty 5900PE above 64 for targets of 71, 79 SL - 60

India VIX : 15.65 up by 0.49
Call OI : 33260850
Put OI : 34841000
PCR OI : 1.048
SMR : 14.94 (Bearish: Bears still holding forth, with 6000 level now looking like “CHINA WALL”, Bulls need to buckle up or else Bears will have huge party in the coming days....)