Tuesday, February 12, 2013

Option Open Interest for 12-02-2013

Inference
Nifty opened positive, and traded within a narrow range till Dec IIP data was released, which came a cropper at -0.6%. The index nosedived below 5900, but the responsive buyers from thereon took control to move Nifty into positive territory and closed the day at 5922.50, a small but significant gain of 24.65 points. The broader market though was weak, with just 555 advances to 931 declines. The 5900PE writers are back.
  • Call option 5800 added 0.46 lacs small amount of OI with small profit booking seen at 6000 and above strike prices.
  • Put Option 5900 and 5700 added 12.51 lacs huge amount of OI with huge profit booking seen at 5600 and below strike prices.
  • Highest accumulation on Call option 6100 at 74.02 lacs & 6200 at 68.39 lacs whereas Put option 5900 at 72.35 lacs & 5800 at 64.96 lacs.
  • Nifty Open Interest is at 1,33,40,600 up by 2,26,350 with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 12,10,000, down by 42,825, with increase in price, most probably short covering.
  • FII’s sold huge 3.96 lacs of Futures, most probably short build-up, as their net OI increased by 3115 contract and the average price per contract comes to around 5974.
  • FII’s future open contract as on date is 283048.
  • PCR Open Interest (Volume) has nudged up to 1.069 due to huge addition at 5700PE level.
  • Support at 5900PE got better with huge addition for the day and now OI now above 72.4 lacs and below that at 5800 with OI of 65 lacs.
  • Resistance still very much at 6000CE, with OI above 58.6 lacs and above that at 6100 with highest OI of 74 lacs.
  • Range as per Option Table is 5876 - 5954 and as per VIX is 5875 - 5970 with 5920 as the Pivot.
Option Call for 13-02-2013
Buy Nifty 5900CE above 90 for targets of 98, 107 SL - 85
Buy Nifty 5900PE above 57 for targets of 64, 77 SL - 54

India VIX : 15.31 down by 0.34 points
Call OI : 33169650
Put OI : 35469400
PCR OI : 1.069
SMR : 14.32 (Bearish to Neutral: Bulls came back just on time to spoil the Bear Party, but is it enough? Bulls need a good follow-up day or else all will be in Vain...)