Sunday, February 17, 2013

Option Open Interest for 15-02-2013

Inference
Nifty opened weak below the previous day’s close and stayed weak for the major part of the trading session with a pull back towards the afternoon. Nifty touched the highs around 5900, but closed weak at 5887.40, a small loss of 9.55 points. On a week on week basis, this is the third straight week when the index has closed in Red. The broader market was also weak, with just 595 advances to 915 declines. The 5900-6000CE writers added a whopping 20 lacs of OI, and now 6000 could be a huge resistance going into this expiry.
  • Call option 5900-6100 added 23.54 lacs huge amount of OI with profit booking seen at 6200 and above strike prices.
  • Put Option 5800, 5500 added 8.50 lacs huge amount of OI with huge short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6100 at 82.41 lacs & 6000 at 73.69 lacs whereas Put option 5900 at 69.50 lacs & 5700 at 67.38 lacs.
  • Nifty Open Interest is at 1,48,00,900 up by 7,40,650 with small decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 11,89,100, up by 10,450, with increase in price, most probably long build-up.
  • FII’s sold huge 12.68 lacs of Futures, most probably short build-up, as their net OI increased by 26701 contract and the average price per contract comes to around 5926.
  • FII’s future open contract as on date is 332107.
  • PCR Open Interest (Volume) has decreased to 1.015 due to huge liquidation seen at 5900PE level.
  • Best support still at 5900PE but price hovering just below it and below that at 5800 with OI of 65.5 lacs.
  • Huge Resistance now at 6000CE, with huge OI of 73.7 lacs and above that at 6100 with highest OI of 82.4 lacs.
  • Range as per Option Table is 5845 - 5924 and as per VIX is 5840 - 5934 with 5900 as the Pivot.
Option Call for 18-02-2013
Buy Nifty 5900CE above 55 for targets of 65, 76 SL - 52
Buy Nifty 5900PE above 66 for targets of 77, 93 SL - 62

India VIX : 15.24 up by 0.15
Call OI : 36260700
Put OI : 36801750
PCR OI : 1.015
SMR : 15.02 (Bearish: Bears are just dominating the proceedings with 6000 levels looking like a huge resistance right now. The PE writers have started to lose its foothold at 5900E level with huge liquidation, it’s now or never for the Bulls...)