Wednesday, March 13, 2013

Option Open Interest for 13-03-2013

Inference
Nifty opened weak, but though it tried to move up but was sold-off to close at the lows of the day at 5851.20, a huge loss of 62.90 points. The broader market was also very weak, with just 395 advances to 1108 declines. Today’s down move was mostly due to long liquidation and the OI Table saw 6000 established as huge resistance for the series.
  • Call option 5800-6000 added 23.54 lacs of OI with small profit booking seen at 6200 and above strike prices.
  • Put Option 5700-5500 added 32.56 lacs huge amount of OI with huge liquidation seen at 5800 and above strike prices.
  • Highest accumulation on Call option 6000 at 74.28 lacs & 5900 at 63.90 lacs whereas Put option 5700 at 1.31 crore & 5600 at 1.06 crore.
  • Nifty Open Interest is at 1,54,60,100 down by 6,14,900, with decrease in price, mostly probably long liquidation.
  • Bank Nifty Open Interest is at 17,09,150, up by 39,775, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 3.79 lacs of Futures, most probably long liquidation, as their net OI decreased by 13351 contracts and the average price per contract comes to around 5877.
  • FII’s future open contract as on date is 339369.
  • PCR Open Interest (Volume) has moved down a bit to 1.620 due to huge addition at 5800-6000CE levels.
  • Support right now at 5800PE, with OI of above 97.26 lacs and below that at 5700 with OI in excess of 1.3 crore.
  • Resistance at 5900CE, with huge addition for the day at 8.94 lacs, and above that at 6000 with OI of 74.3 lacs.
  • Range as per Option Table is 5814 - 5908 and as per VIX is 5802 - 5901 with 5880 as the Pivot.
Option Call for 14-03-2013
Buy Nifty 5900CE above 64 for targets of 73, 89 SL - 59
Buy Nifty 5800PE above 50 for targets of 57, 65 SL - 45

India VIX : 16.20 up by 1.07
Call OI : 37633200
Put OI : 60964600
PCR OI : 1.620
SMR : 10.00 (Bearish: The CE writers are back in the game with 6000 now a very strong resistance for the series, but lower levels seems still very much in control of the Bulls, a move towards 5800 could open the flood-gates...)