Wednesday, February 27, 2013

Option Open Interest for 27-02-2013

Inference
Nifty for a change opened positive, but the sellers came back to move the index below the previous day’s low. The resurgent buyers came back to move the index above 5800 but closed just below at 5796.90 a cool gain of 35.55 points. It seemed like a good come back on the eve of Budget, after the mayhem seen yesterday. The broader market also performed well, with 825 advances to 693 declines. As per OI table, the index is exactly at pivot level and can see either 5700 or 5900 tomorrow.
  • Call option 5800-6000 added 10.62 lacs huge amount of OI with profit booking seen at 6100 and above strike prices.
  • Put Option 5700 added 2.58 lacs huge amount of OI with huge liquidation seen at 5800 and above strike prices.
  • Highest accumulation on Call option 6000 at 95.6 lacs & 5900 at 83.6 lacs whereas Put option 5800 at 59.5 lacs & 5700 at 56.6 lacs.
  • Nifty Open Interest is at 1,44,41,800 down by 6,39,100, whereas March series added 16.87 lacs with inrease in price, most probably 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 12,32,325, down by 1,04,875, whereas March series added 1.60 lacs with increase in price, most probably 100% rollover with huge long build-up.
  • FII’s today mostly day traded, but their net OI increased by 38839 contract and the average price per contract comes to around 5827.
  • FII’s future open contract as on date is 629639.
  • PCR Open Interest (Volume) making another low and now at 0.661.
  • Support at 5700PE, with OI over 56.6 lacs and below that at 5600 with OI of 53.7 lacs.
  • Huge Resistance at 5900CE, with OI above 83.6 lacs, and above that at 6000 with highest OI of 95.6 lacs.
  • Range as per Option Table is 5751 - 5834 and as per VIX is 5748 - 5846 with 5800 as the Pivot.

March Option Table and how it is shaping up, Range : 5700-6100 

Option Call for 28-02-2013
Buy Nifty 5800CE above 38 for targets of 50, 63 SL - 35
Buy Nifty 5800PE above 49 for targets of 65, 90 SL - 45

India VIX : 16.23 down by 1.13
Call OI : 43085100
Put OI : 28457850
PCR OI : 0.661
SMR : 24.57 (Bearish: This is what was said yesterday: “Bears in control, but look to book most of your shorts and hold with strict SL.” Bulls came back to defend the lows, but will that be enough on a news heavy Budget Day...)