Sunday, March 10, 2013

Option Open Interest for 08-03-2013

Inference
Nifty opened positive, just above the previous day’s close and stayed in a narrow range with positive bias throughout the morning session. The index took off in the afternoon session on the back of huge short covering to see 5980 on the future, and closed just below in Spot at 5945.70, still a huge gain of 82.40 points. The broader market was positive, with 980 advances to 529 declines. The OI table saw huge addition at 5900PE, maybe the next level of support in a day or two.
  • Call option 6200-6300 added 8.68 lacs of OI with huge liquidation seen at 6000 and below strike prices.
  • Put Option 6000-5800 added 51.72 lacs huge amount of OI with profit booking seen at 5500 and lower strike prices.
  • Highest accumulation on Call option 6000 at 57.16 lacs & 6100 at 56.02 lacs whereas Put option 5700 at 94.70 lacs & 5800 at 94.02 lacs.
  • Nifty Open Interest is at 1,65,41,050 down by 4,53,750, with increase in price, mostly probably huge short covering.
  • Bank Nifty Open Interest is at 16,40,925, up by 1,94,500, with increase in price, most probably huge-huge long build-up.
  • FII’s bought huge 9.62 lacs of Futures, most probably short covering, as their net OI decreased by 280 contracts and the average price per contract comes to around 5992.
  • FII’s future open contract as on date is 330503.
  • PCR Open Interest (Volume) has gone up to 1.424.
  • Support right now at 5900PE, with huge addition for the day at 26.1 lacs and below that at 5800 with highest OI in Option table at 94 lacs.
  • Resistance right now at 6000CE, but looking vulnerable with OI just above 57.1 lacs, and above that at 6100 with OI of 56 lacs.
  • Range as per Option Table is 5884 - 5979 and as per VIX is 5904 - 5987 with 5930 as the Pivot.
Option Call for 11-03-2013
Buy Nifty 6000CE above 50 for targets of 62, 74 SL - 44
Buy Nifty 5900PE above 49 for targets of 58, 76 SL - 46

India VIX :13.34 up by 0.27 points
Call OI : 34018500
Put OI : 48454600
PCR OI : 1.424
SMR : 9.37 (Bullish: Option Table right now is bereft of any resistance with CE writers covering fast, momentum looks good for the Bulls but SMR below 10, time to be cautious with longs...)