Wednesday, February 13, 2013

Option Open Interest for 13-02-2013

Inference
Nifty opened positive, and went up quickly to touch the highs of the day around 5970, but the Sellers were waiting for this opportunity, and gradually moved the index to the lows of the at 5925 to close at 5932.95, a small gain of 10.45 points. The broader market is still very weak, with just 585 advances to 895 declines. 5900PE OI is just below 80 lacs and could be the base for the series.
  • Call option 5900, 6100-6200 added 8.53 lacs small amount of OI with profit booking seen at 6000 & 6300 strike prices.
  • Put Option 5900 and 5700 added 13.43 lacs huge amount of OI with huge profit booking seen at 5800 & 5600 strike prices.
  • Highest accumulation on Call option 6100 at 76.45 lacs & 6200 at 72.73 lacs whereas Put option 5900 at 79.49 lacs & 5700 at 67.54 lacs.
  • Nifty Open Interest is at 1,34,11,150 up by 70,550 with no change in price, most probably long build-up.
  • Bank Nifty Open Interest is at 11,95,275, down by 14,725, with decrease in price, most probably long liquidation.
  • FII’s bought huge 2.52 lacs of Futures, most probably long build-up, as their net OI increased by 7847 contract and the average price per contract comes to around 5967.
  • FII’s future open contract as on date is 290895.
  • PCR Open Interest (Volume) is at 1.064.
  • Support at 5900PE now looks very good with OI now above 79.5 lacs and below that at 5800 with OI of 62.9 lacs.
  • Resistance still very much at 6000CE, but seems like they are not a confident lot as some liquidation is seen and above that at 6100 with huge OI of 76.4 lacs.
  • Range as per Option Table is 5902 - 5979 and as per VIX is 5886 - 5980 with 5930 as the Pivot.
Option Call for 14-02-2013
Buy Nifty 5900CE above 92 for targets of 103, 120 SL - 88
Buy Nifty 5900PE above 52 for targets of 61, 72 SL - 48

India VIX : 15.14 down by 0.17
Call OI : 33616250
Put OI : 35777600
PCR OI : 1.064
SMR : 14.23 (Neutral: Bulls have missed a very good chance to come back, but have made sure that 5900 level will not be easy to break, a positive day tomorrow and they can take control....)