Tuesday, February 19, 2013

Option Open Interest for 19-02-2013

Inference
Nifty opened flat, and meandered around the previous day’s close in a very small range for the better part of the trading session, but saw huge buying in the later half to see the index move swiftly above 5900 to the highs of day around 5950 and closed just below it at 5939.70, an impressive gain of 41.50 points. The broader market was also strong, with 1011 advances to 484 declines. The 5900-6000CE writers covered huge and now the OI table is again open.
  • Call option 6200 added 5.08 lacs huge amount of OI with profit booking seen at 6000-6100 strike prices.
  • Put Option 6000-5800 added 5.41 lacs huge amount of OI with huge profit booking seen at 5700 and below strike prices.
  • Highest accumulation on Call option 6100 at 82.99 lacs & 6000 at 76.98 lacs whereas Put option 5900 at 71.39 lacs & 5800 at 66.14 lacs.
  • Nifty Open Interest is at 1,58,45,200 up by 4,28,000 with huge increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,88,225, down by 2,500, with increase in price, most probably small short covering.
  • FII’s sold huge 7.10 lacs of Futures, most probably short build-up, as their net OI increased by 12068 contract and the average price per contract comes to around 5984.
  • FII’s future open contract as on date is 357618.
  • PCR Open Interest (Volume) is still below 1, but has increased a bit to 0.973.
  • Support back at 5900PE, with huge OI of 71.4 lacs and below that at 5800 with OI of 66.1 lacs.
  • Resistance at 6000CE, though covered huge OI for the day above that at 6100 with highest OI of 83 lacs.
  • Range as per Option Table is 5889 - 5965 and as per VIX is 5891 - 5989 with 5930 as the Pivot.
Option Call for 20-02-2013
Buy Nifty 5900CE above 84 for targets of 98, 112 SL - 73
Buy Nifty 6000PE above 94 for targets of 112, 134 SL - 89

India VIX : 15.81 down by 0.48
Call OI : 36563750
Put OI : 35559550
PCR OI : 0.973
SMR : 16.26 (Neutral: Bull came back in the dying minutes of trade, and Bears who were holding upper hand for the last few days felt the jitter and went on a short covering spree. Is it enough for the Bulls? No they need to do much more to be in driver seat...)