Monday, March 4, 2013

Option Open Interest for 04-03-2013

Inference
Nifty opened weak just around 5700 level and nose-dived to the lows of 5663 within the first hour of trade. The responsive buyer took control from thereon to move the index back above 5700, but close just below at 5698.50, a small loss of 21.20 points. The broader market though was very weak, with just 359 advances to 1152 declines. The OI table though looks heavily tilted towards the Bears.
  • Call option 5600-6000 added 25.96 lacs huge amount of OI with small profit booking seen at 6100 and above strike prices.
  • Put Option 5700-5400 added 28.06 lacs huge amount of OI with liquidation seen at 5800 and above strike prices.
  • Highest accumulation on Call option 6000 at 62.36 lacs & 5900 at 55.99 lacs whereas Put option 5700 at 71.34 lacs & 5600 at 57.77 lacs.
  • Nifty Open Interest is at 1,65,34,250 up by 12,20,900, with small decrease in price, mostly probably huge short/long build-up.
  • Bank Nifty Open Interest is at 11,94,050, up by 37,425, with small increase in price, most probably small long build-up.
  • FII’s bought huge 6.99 lacs of Futures, most probably long build-up, as their net OI increased by 34143 contracts and the average price per contract comes to around 5727.
  • FII’s future open contract as on date is 336123.
  • PCR Open Interest (Volume) is back above 1 and now at 1.014.
  • Best support still very much at 5700PE, with highest OI of 71.3 lacs though price is hovering around that level and below that at 5600 with OI of 57.8 lacs.
  • Resistance right now at 5800CE, with OI just above 46.8 lacs, and above that at 5900-6000 range with OI of 56 and 62 lacs respectively.
  • Range as per Option Table is 5649 - 5744 and as per VIX is 5658 - 5739 with 5710 as the Pivot.
Option Call for 05-03-2013
Buy Nifty 5700CE above 82 for targets of 89, 98 SL - 78
Buy Nifty 5700PE above 74 for targets of 84, 100 SL - 70

India VIX :13.67 down by 0.39 points
Call OI : 35553450
Put OI : 36035650
PCR OI : 1.014
SMR : 13.49 (Bearish: Bulls still clinging on to the 5700 Nifty level, though Bears are gaining momentum with good addition at 5700-5800 strike, will they be able to thwart the resurgent Bears???)