Tuesday, March 5, 2013

Option Open Interest for 05-03-2013

Inference
Nifty opened positive on good global cues, but traded in a narrow range for the first few hours. The index gained momentum after a small dip around 5720 to move towards 5800 level, missing it by a whisker, though Future closed just above it. The index ultimately closed with a gain of 85.75 points at 5784.25, the best up-move in many days. The broader market also was positive, with 999 advances to 503 declines. The OI table now can boast of a super support around 5700 level.
  • Call option 5800-6200 added 15.62 lacs huge amount of OI with huge liquidation seen at 5700 and below strike prices.
  • Put Option 5800-5400 added 39.17 lacs huge amount of OI with liquidation seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 65.36 lacs & 5900 at 57.97 lacs whereas Put option 5700 at 83.54 lacs & 5600 at 66.73 lacs.
  • Nifty Open Interest is at 1,64,25,050 down by 1,09,200, with huge increase in price, mostly probably huge short covering.
  • Bank Nifty Open Interest is at 12,56,625, up by 62,575, with huge increase in price, most probably long build-up.
  • FII’s bought huge 3.09 lacs of Futures, most probably short covering, as their net OI decreased by 9317 contracts and the average price per contract comes to around 5817.
  • FII’s future open contract as on date is 326806.
  • PCR Open Interest (Volume) is at 1.067.
  • Best support at 5700PE, with highest OI on Option Table at 83.3 lacs and below that at 5600 with OI of 66.7 lacs.
  • Resistance right now at 5900CE, with OI above 57.9 lacs, and above that at 6000 with OI of 65.4 lacs.
  • Range as per Option Table is 5725 - 5818 and as per VIX is 5744 - 5825 with 5770 as the Pivot.
Option Call for 06-03-2013
Buy Nifty 5800CE above 71 for targets of 82, 94 SL - 61
Buy Nifty 5700PE above 45 for targets of 55, 75 SL - 42

India VIX : 13.39 down by 0.28
Call OI : 36407150
Put OI : 38837000
PCR OI : 1.067
SMR : 12.55 (Neutral: Bulls did thwart the Bears and have gained upper hand, with 5700PE now a very strong support with OI above 83.3 lacs, just what the Doctor ordered, now for the follow-up action tomorrow...)