Wednesday, March 6, 2013

Option Open Interest for 06-03-2013

Inference
Nifty opened positive and consolidated in a narrow range with positive bias to close at 5818.60, a good gain of 34.35 points. The broader market also was positive, with 1033 advances to 468 declines. The OI table now looks tilted towards the Bulls with very good support developing around 5800 level.
  • Call option 6100 added 7.44 lacs huge amount of OI with liquidation seen at 5800 and below strike prices.
  • Put Option 5900-5700 added 28.99 lacs huge amount of OI with profit booking seen at 5400 and lower strike prices.
  • Highest accumulation on Call option 6000 at 63.87 lacs & 5900 at 55.08 lacs whereas Put option 5700 at 94.26 lacs & 5800 at 70.70 lacs.
  • Nifty Open Interest is at 1,67,54,450 up by 3,29,400, with increase in price, mostly probably huge long build-up.
  • Bank Nifty Open Interest is at 14,13,075, up by 1,56,450, with increase in price, most probably long build-up.
  • FII’s bought huge 3.31 lacs of Futures, most probably long build-up, as their net OI increased by 12937 contracts and the average price per contract comes to around 5857.
  • FII’s future open contract as on date is 339743.
  • PCR Open Interest (Volume) is increasing fast and now at 1.158.
  • Initial support now at 5800PE, with huge OI of 70.7 lacs and below that at 5700 with highest OI in Option table at 94.3 lacs.
  • Resistance still very much at 5900CE, with small decrease in OI, and above that at 6000 with OI of 63.9 lacs.
  • Range as per Option Table is 5769 - 5860 and as per VIX is 5778 - 5859 with 5810 as the Pivot.
Option Call for 07-03-2013
Buy Nifty 5800CE above 90 for targets of 98, 106 SL - 87
Buy Nifty 5800PE above 58 for targets of 64, 74 SL - 55

India VIX :13.40 up by 0.01 points
Call OI : 36202150
Put OI : 41927950
PCR OI : 1.158
SMR : 11.57 (Bullish: Bulls are on a song with the much needed follow-up coming through. Bears seems to be losing out, or maybe waiting for the opportune moment to strike hard, but time is running out...)