Monday, March 11, 2013

Option Open Interest for 11-03-2013

Inference
Nifty opened positive, but the sellers got active and moved the index below the dotted line. The buyer came back to see the index to the highs of the day around 5970, but was sold off again to close at the lows of the day at 5942.35, a miniscule loss of 3.35 points. The broader market was just negative, with 734 advances to 760 declines. The OI table though saw huge addition at 5700-5900PE levels.
  • Call option 5900-6400 added 13.32 lacs of OI with liquidation seen at 5800 and below strike prices.
  • Put Option 6100-5700 added 34.51 lacs huge amount of OI with profit booking seen at 5600 and lower strike prices.
  • Highest accumulation on Call option 6100 at 61.34 lacs & 6000 at 59.71 lacs whereas Put option 5700 at 1.1 crore & 5800 at 1.0 crore.
  • Nifty Open Interest is at 1,66,49,850 up by 1,08,800, with small decrease in price, mostly probably short build-up.
  • Bank Nifty Open Interest is at 16,70,550, up by 29,625, with decrease in price, most probably short build-up.
  • FII’s sold huge 1.12 lacs of Futures, most probably short build-up, as their net OI increased by 10567 contracts and the average price per contract comes to around 5978.
  • FII’s future open contract as on date is 341070.
  • PCR Open Interest (Volume) has gained much ground from the start of the series and now comfortably placed at 1.493.
  • Support right now at 5900PE, with huge addition for the day at 11.1 lacs and below that at 5800 with OI in excess of 1 crore.
  • Resistance still very much at 6000CE, with OI just above 59.7 lacs, and above that at 6100 with OI of 61.3 lacs.
  • Range as per Option Table is 5900 - 5993 and as per VIX is 5898 - 5987 with 5930 as the Pivot.
Option Call for 12-03-2013
Buy Nifty 6000CE above 50 for targets of 58, 69 SL - 47
Buy Nifty 5900PE above 45 for targets of 50, 57 SL - 41

India VIX : 14.25 up by 0.91
Call OI : 34582500
Put OI : 51640100
PCR OI : 1.493
SMR : 9.54 (Bullish: A negative close for the Nifty, but Option Table saw good addition at 5900PE, which now looks like good support. Bulls need to be cautious as SMR still below 10...)