Tuesday, February 26, 2013

Option Open Interest for 26-02-2013

Inference
Nifty opened weak on the back of very bad global cues, and started drifting down with each passing hour to close near the lows of the day at 5761.35, a huge loss of 93.40 points. This was one of the biggest loss in the index in months. The broader market was also very weak, with just 265 advances to 1266 declines. As per OI table, the range has just shifted down to 5720-5900 for the time being.
  • Call option 5700-5900 added 39.72 lacs huge amount of OI with profit booking seen at 6000 and above strike prices.
  • Put Option 5600-5500 added 4.59 lacs huge amount of OI with huge liquidation seen at 5800 and above strike prices.
  • Highest accumulation on Call option 6000 at 91.4 lacs & 5900 at 79.4 lacs whereas Put option 5800 at 63.6 lacs & 5600 at 58.9 lacs.
  • Nifty Open Interest is at 1,50,80,900 down by 7,50,300, whereas March series added 54.23 lacs with huge decrease in price, most probably 100% rollover with huge short build-up.
  • Bank Nifty Open Interest is at 13,37,200, up by 1,00,275, whereas March series added 1.86 lacs with decrease in price, most probably huge short build-up in both series.
  • FII’s sold huge 21.79 lacs of Futures, most probably short build-up, as their net OI increased by 177542 contract and the average price per contract comes to around 5792.
  • FII’s future open contract as on date is 590800.
  • PCR Open Interest (Volume) at the low point of the series at 0.718.
  • Support now have gone down to 5700PE, with OI at just 54 lacs and below that at 5600 with OI of 58.9 lacs.
  • Huge Resistance now at 5900CE, with OI above 79.4 lacs, and above that at 6000 with highest OI of 91.4 lacs.
  • Range as per Option Table is 5738 - 5818 and as per VIX is 5709 - 5814 with 5790 as the Pivot.
Option Call for 27-02-2013
Buy Nifty 5800CE above 44 for targets of 60, 88 SL - 39
Buy Nifty 5800PE above 65 for targets of 80, 95 SL - 57

India VIX : 17.36 up by 0.63 points
Call OI : 43203100
Put OI : 31002550
PCR OI : 0.718
SMR : 24.19 (Bearish: This is what was said yesterday: “Another day of consolidation, but volatility is increasing, could see some huge fluctuation in the next few days. SMR above 20, stay cautious at lower levels”, Bears in control, but look to book most of your shorts or hold with strict SL...)