Thursday, March 14, 2013

Option Open Interest for 14-03-2013

Inference
Nifty opened flat, but was sold-off promptly to the lows of the day at 5790, but the responsive buyer from thereon took control of the situation to move the index above the previous day’s close and above the psychological level of 5900. The index ultimately closed shop at 5908.95, a pullback of more than 120 points from the lows and a gain of 57.75 points. The broader market though was weak, with 725 advances to 747 declines. Today the FII covered most of the index options bought in the last few days and now the range as per OI table is 5800-6000 for the time being.
  • Call option 6100-6200 added 7.54 lacs of OI with huge short covering seen at 5900 and below strike prices.
  • Put Option 6000 added 5.60 lacs huge amount of OI with huge profit booking seen at 5900 and below strike prices.
  • Highest accumulation on Call option 6000 at 72.65 lacs & 6100 at 66.45 lacs whereas Put option 5700 at 1.09 crore & 5800 at 93.66 crore.
  • Nifty Open Interest is at 1,50,48,200 down by 4,11,900, with increase in price, mostly probably short covering.
  • Bank Nifty Open Interest is at 16,00,000, down by 1,09,150, with huge increase in price, most probably huge short covering.
  • FII’s bought 0.72 lacs of Futures, most probably short covering, as their net OI decreased by 3895 contracts and the average price per contract comes to around 5958.
  • FII’s future open contract as on date is 335474.
  • PCR Open Interest (Volume) moved down to 1.456 due to huge liquidation seen at 5700-5600PE levels.
  • Support right now at 5800PE, with OI of above 93.66 lacs and below that at 5700 with OI in excess of 1.08 crore.
  • Resistance at 6000CE, with OI above 72.65 lacs, and above that at 6100 with OI of 66.45 lacs.
  • Range as per Option Table is 5835 - 5933 and as per VIX is 5864 - 5954 with 5900 as the Pivot.
Option Call for 15-03-2013
Buy Nifty 5900CE above 84 for targets of 100, 119 SL - 72
Buy Nifty 5900PE above 75 for targets of 94, 115 SL - 71

India VIX :14.66 down by 1.54 points
Call OI : 36992800
Put OI : 53848900
PCR OI : 1.456
SMR : 10.07 (Bullish to Neutral: Volatility at its best, with the Index moving in a huge range of 130 points, simply not for the weak hearted. At the end of the day, Status Quo was maintained with no party having undue advantage...)