Wednesday, February 20, 2013

Option Open Interest for 20-02-2013

Inference
Nifty opened gap-up on the back of positive global cues, but were unable to sustain it and ended the day just above the previous day’s close at 5943.05, a very small gain of 3.35 points. The broader market was just flat to positive, with 788 advances to 696 declines. The 5900PE writers covered some OI, seems like Bulls are not very sure of themselves.
  • Call option 6200 added 9.73 lacs huge amount of OI with short covering seen at 5800 and below strike prices.
  • Put Option 6000, 5800 added 5.96 lacs huge amount of OI with huge profit booking seen at 5700 and below strike prices.
  • Highest accumulation on Call option 6200 at 83.79 lacs & 6100 at 83.02 lacs whereas Put option 5900 at 70.19 lacs & 5800 at 68.17 lacs.
  • Nifty Open Interest is at 1,60,59,050 up by 2,13,850 with small increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 12,80,275, down by 7,950, with decrease in price, most probably small long liquidation.
  • FII’s bought huge 6.12 lacs of Futures, most probably long build-up, as their net OI increased by 20800 contract and the average price per contract comes to around 5990.
  • FII’s future open contract as on date is 378418.
  • PCR Open Interest (Volume) is still below 1, at 0.911 due to huge liquidation seen at 5700-5600PE level.
  • Support still at 5900PE, with huge OI of 70.2 lacs and below that at 5800 with OI of 68.2 lacs.
  • Resistance still at 6000CE, though covered small OI for the day above that at 6100 with highest OI of 83 lacs.
  • Range as per Option Table is 5911 - 5986 and as per VIX is 5895 - 5992 with 5935 as the Pivot.
Option Call for 21-02-2013
Buy Nifty 5900CE above 88 for targets of 96, 105 SL - 84
Buy Nifty 6000PE above 72 for targets of 79, 87 SL - 69

India VIX : 15.60 down by 0.21 points
Call OI : 37150550
Put OI : 33842900
PCR OI : 0.911
SMR : 17.12 (Neutral to Bearish: Bulls were unable to seal their mark on the OI table and are still not out of the woods, Bears can go for the kill anytime as they still have upper hand...)