Monday, February 18, 2013

Option Open Interest for 18-02-2013

Inference
Nifty opened flat, but gained momentum with each passing hour to make a high of 5911, but was sold off in the last hour of trade to close just below the psychological level of 5900 at 5898.20, a small gain of 10.80 points. The broader market was strong, with 906 advances to 592 declines. The 6000CE writers added a whopping 12.1 lacs of OI, and now 6000 is the resistance for this expiry.
  • Call option 5900-6100 added 23.66 lacs huge amount of OI with profit booking seen at 6300 and above strike prices.
  • Put Option 5600-5500 added 4.79 lacs huge amount of OI with huge short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 85.82 lacs & 6000 at 85.50 lacs whereas Put option 5900 at 66.73 lacs & 5800 at 65.93 lacs.
  • Nifty Open Interest is at 1,54,17,200 up by 6,16,300 with small increase in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 12,90,725, up by 1,01,625, with no change in price, most probably short build-up.
  • FII’s sold huge 6.98 lacs of Futures, most probably short build-up, as their net OI increased by 13443 contract and the average price per contract comes to around 5938.
  • FII’s future open contract as on date is 345550.
  • PCR Open Interest (Volume) has gone below 1 for the first time in the series and now at 0.948.
  • Best support still at 5900PE though price still just below it and below that at 5800 with OI of 65.9 lacs.
  • Best Resistance now at 6000CE, with highest OI of 85.8 lacs and above that at 6100 with huge OI of 85.5 lacs.
  • Range as per Option Table is 5858 - 5937 and as per VIX is 5848 - 5948 with 5905 as the Pivot.
Option Call for 19-02-2013
Buy Nifty 5900CE above 57 for targets of 65, 73 SL - 53
Buy Nifty 5900PE above 55 for targets of 62, 71 SL - 52

India VIX : 16.29 up by 1.05 points
Call OI : 38258550
Put OI : 36284700
PCR OI : 0.948
SMR : 17.18 (Bearish: Its Bears all the way in Option Table, with 6000 now having the highest OI, will the Bulls be able to come back, probability decreasing by the day...)