Thursday, February 14, 2013

Option Open Interest for 14-02-2013

Inference
Nifty opened flat, but was sold off immediately, a better than expected Jan WPI inflation at 6.62% say the market back in green but the euphoria evaporated fast and index went on to make new lows with each passing hour. The index closed near the lows of the day at 5896.95, a loss of 36.00 points. The broader market was weaker, with just 331 advances to 1175 declines. 5900PE OI is still holding on, but need to see how it withstands the resurgent Bears.
  • Call option 5800-6100 added 17.57 lacs huge amount of OI with profit booking seen at 6200 and above strike prices.
  • Put Option 5800-5700, 5500 added 12.67 lacs huge amount of OI with huge short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6100 at 79.78 lacs & 6200 at 64.27 lacs whereas Put option 5900 at 78.04 lacs & 5700 at 70.77 lacs.
  • Nifty Open Interest is at 1,40,60,250 up by 6,48,100 with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 11,78,650, down by 16,625, with decrease in price, most probably long liquidation.
  • FII’s sold huge 6.61 lacs of Futures, most probably short build-up, as their net OI increased by 14511 contract and the average price per contract comes to around 5932.
  • FII’s future open contract as on date is 305406.
  • PCR Open Interest (Volume) has decreased a bit to 1.057.
  • Best support still at 5900PE but price hovering just below it and below that at 5800 with OI of 63.4 lacs.
  • Resistance got better at 6000CE, with huge addition of 6.5 lacs for the day and above that at 6100 with highest OI of 79.8 lacs.
  • Range as per Option Table is 5866 - 5944 and as per VIX is 5850 - 5944 with 5910 as the Pivot.
Option Call for 15-02-2013
Buy Nifty 5900CE above 71 for targets of 83, 104 SL - 67
Buy Nifty 5900PE above 63 for targets of 73, 84 SL - 58

India VIX : 15.09 down by 0.05 points
Call OI : 34331800
Put OI : 36278300
PCR OI : 1.057
SMR : 14.28 (Bearish: Bears just stream rolled their way back into the OI Table and now Bulls have to do all the hard work or else expiry below 6000 is a possibility...)