Sunday, February 24, 2013

Option Open Interest for 22-02-2013

Inference
Nifty opened weak and saw a dip towards 5835, but the responsive buyers took control and moved the index to the highs of the day around 5875, but weekend profit booking saw the index close flat at 5850.30, a small loss of 1.95 points. On a week-on-week basis the index lost 37.10 or 0.63%, a continuous loss of 4 weeks. The broader market was also flat, with 740 advances to 752 declines. As per OI table, the range of 5800-5950 could come in the play for the next 1-2 days.
  • Call option 5700-6000 added 3.89 lacs huge amount of OI with profit booking seen at 6100 and above strike prices.
  • Put Option 5800-5600 added 15.52 lacs huge amount of OI with huge short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 1.04 crore & 6100 at 83.33 lacs whereas Put option 5800 at 76.34 lacs & 5700 at 61.04 lacs.
  • Nifty Open Interest is at 1,65,60,200 up by 3,86,350 with no change in price, most probably short build-up.
  • Bank Nifty Open Interest is at 13,29,150, down by 82,800, with increase in price, most probably huge short covering.
  • FII’s sold huge 11.92 lacs of Futures, most probably short build-up, as their net OI increased by 9181 contract and the average price per contract comes to around 5875.
  • FII’s future open contract as on date is 380181.
  • PCR Open Interest (Volume) is still weak at 0.828.
  • Support still very much at 5800PE, with OI above 76.3 lacs and below that at 5700 with OI of 61.0 lacs.
  • Resistance at 5900CE, with huge OI of 60.6 lacs, and above that at 6000 with highest OI of 1.04 crore.
  • Range as per Option Table is 5815 - 5892 and as per VIX is 5799 - 5902 with 5870 as the Pivot.
Option Call for 25-02-2013
Buy Nifty 5800CE above 87 for targets of 99, 116 SL - 83
Buy Nifty 5900PE above 77 for targets of 92, 107 SL - 74

India VIX : 16.79 down by 0.15 points
Call OI : 41620900
Put OI : 34469350
PCR OI : 0.828
SMR : 17.12 (Bearish: A consolidation day after the huge down-move the day before, Monday could decide if we have expiry below 5800 or above 5900. Bears in control right now...)