Tuesday, March 12, 2013

Option Open Interest for 12-03-2013

Inference
A huge volatile day in Nifty, with the index after a sedate start moved down, though we have better than expected GDP data at 2.4%. The responsive buyer took control from thereon to move the index back around the dotted line, but a late sell-off saw it closing at 5914.10 a loss of 28.25 points. The broader market was also negative, with just 553 advances to 945 declines. The OI table saw huge addition at 5700-5500PE levels, which looks more like buying.
  • Call option 5900-6000, 6200 added 15.81 lacs of OI with liquidation seen at 5800 and below strike prices.
  • Put Option 6000, 5800-5500 added 61.07 lacs huge amount of OI with liquidation seen at 5900 strike price.
  • Highest accumulation on Call option 6000 at 67.22 lacs & 6100 at 60.17 lacs whereas Put option 5700 at 1.2 crore & 5800 at 1.06 crore.
  • Nifty Open Interest is at 1,60,75,000 down by 5,74,850, with decrease in price, mostly probably long liquidation.
  • Bank Nifty Open Interest is at 16,69,375, down by 1,175, with decrease in price, most probably small long liquidation.
  • FII’s sold huge 8.69 lacs of Futures, most probably short build-up, as their net OI increased by 11650 contracts and the average price per contract comes to around 5954.
  • FII’s future open contract as on date is 352720.
  • PCR Open Interest (Volume) has jumped to 1.673 due to huge addition at 5700-5900PE level.
  • Support still very much at 5900PE, though covered some OI and below that at 5800 with OI in excess of 1.06 crore.
  • Resistance got stronger at 6000CE, with OI now above 67.2 lacs, and above that at 6100 with OI of 60.2 lacs.
  • Range as per Option Table is 5872 - 5964 and as per VIX is 5867 - 5961 with 5920 as the Pivot.
Option Call for 13-03-2013
Buy Nifty 5900CE above 93 for targets of 108, 127 SL - 89
Buy Nifty 5900PE above 54 for targets of 67, 79 SL - 51

India VIX :13.34 up by 0.27 points
Call OI : 34018500
Put OI : 48454600
PCR OI : 1.424
SMR : 9.37 (Bullish to Neutral: Another negative close for Nifty, but Option Table still looks tilted very much in favour of the Bulls, but Bulls need to be cautious as SMR around 9 and 6000CE getting bigger with each passing day...)