Sunday, March 3, 2013

Option Open Interest for 01-03-2013

Inference
Nifty opened flat after the pounding received on Budget cum Expiry day and stayed mostly positive, and closed at 5719.70, gain of 26.65 points, a small consolation for the bulls. On a week on week basis the index lost 130.60 points or about 2.23%, continuous 5th week of Red candle. The broader market though was weak, with just 688 advances to 817 declines. The OI table though is painting a very gloomy picture for the Bulls.
  • Call option 5500-6000 added 26.10 lacs huge amount of OI with small profit booking seen at 6100 strike price.
  • Put Option 5700-5400 added 19.51 lacs huge amount of OI with liquidation seen at 5800 and above strike prices.
  • Highest accumulation on Call option 6000 at 58.57 lacs & 5900 at 51.96 lacs whereas Put option 5700 at 67.22 lacs & 5600 at 47.68 lacs.
  • Nifty Open Interest is at 1,53,13,350 up by 13,03,400, with small increase in price, mostly probably huge short/long build-up.
  • Bank Nifty Open Interest is at 11,56,625, down by 24,975, with small decrease in price, most probably small long liquidation.
  • FII’s sold huge 4.56 lacs of Futures, most probably short build-up, as their net OI increased by 4955 contracts and the average price per contract comes to around 5737.
  • FII’s future open contract as on date is 301980.
  • PCR Open Interest (Volume) has gone down below 1 on the second day of the series and now 0.987.
  • Best support building up around 5700PE, with huge OI of over 67.2 lacs and below that at 5600 with OI of just 47.7 lacs.
  • Resistance at 5900CE, with OI above 51.96 lacs, and above that at 6000 with huge OI of 58.57 lacs.
  • Range as per Option Table is 5670 - 5760 and as per VIX is 5678 - 5762 with 5730 as the Pivot.
Option Call for 04-03-2013
Buy Nifty 5800CE above 54 for targets of 64, 78 SL - 51
Buy Nifty 5700PE above 72 for targets of 84, 99 SL - 69

India VIX : 14.06 down by 0.80
Call OI : 33500650
Put OI : 33058450
PCR OI : 0.987
SMR : 14.25 (Bearish: A day after the battering received at the hands of the Bears, the Bulls got some relief, but will they be able to turn it around or fall flat, looks remote right now