Thursday, February 21, 2013

Option Open Interest for 21-02-2013

Inference
Nifty opened weak just above 5900, on the back of bad global cues, and further selling saw the index breaking important support levels and closing at the lows of the day at 5852.25, a huge loss of 90.80 points. The broader market was also very weak, with just 316 advances to 1202 declines. The OI table is in a sea of Red, but need to be cautious at lower levels as SMR has gone above 20.
  • Call option 5800-6100 added 61.80 lacs huge amount of OI with profit booking seen at 6200 and above strike prices.
  • Put Option 5800-5600 added 25.90 lacs huge amount of OI with huge short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 1.03 crore & 6100 at 87.06 lacs whereas Put option 5800 at 75.87 lacs & 5900 at 53.44 lacs.
  • Nifty Open Interest is at 1,61,73,850 up by 1,14,800 with huge decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 14,11,950, up by 1,31,675, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 8.22 lacs of Futures, most probably long liquidation, as their net OI decreased by 7418 contract and the average price per contract comes to around 5875.
  • FII’s future open contract as on date is 371000.
  • PCR Open Interest (Volume) has gone to 0.810 due to huge liquidation seen at 5900PE.
  • Support has moved down one step and now at 5800PE, and below that at 5700 with OI of 49.2 lacs.
  • Initial resistance now at 5900CE, with huge addition of 20.04 lacs for the day, and above that at 6000 with highest OI of 1.03 crore.
  • Range as per Option Table is 5829 - 5908 and as per VIX is 5800 - 5904 with 5870 as the Pivot.
Option Call for 22-02-2013
Buy Nifty 5800CE above 102 for targets of 122, 150 SL - 97
Buy Nifty 5900PE above 82 for targets of 101, 121 SL - 67

India VIX : 16.94 up by 1.34
Call OI : 41777950
Put OI : 33837300
PCR OI : 0.810
SMR : 20.92 (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” – Was said yesterday, and Bears did go for the KILL...)