Sunday, March 17, 2013

Option Open Interest for 15-03-2013

Inference
Nifty opened strong and touched 5940 level, but was sold-off promptly to the lows of the day at 5865, with not much of a recovery seen in-between. The index closed weak below the psychological level of 5900 at 5872.60 a loss of 36.35 points. On a week-on-week basis the index lost 1.2%. The broader market was also weak, with 506 advances to 1003 declines. The index table is balanced around 5800-6000 level right now.
  • Call option 5900-6200 added 8.18 lacs of OI with huge short covering seen at 5800 and below strike prices.
  • Put Option 6000-5800 covered 17.82 lacs huge amount of OI with small profit booking seen at 5600 and below strike prices.
  • Highest accumulation on Call option 6000 at 76.88 lacs & 6100 at 67.15 lacs whereas Put option 5700 at 1.09 crore & 5800 at 85.90 crore.
  • Nifty Open Interest is at 1,49,78,950 down by 69,250, with decrease in price, mostly probably long liquidation.
  • Bank Nifty Open Interest is at 14,36,800, down by huge 1,63,200, with decrease in price, most probably huge long liquidation.
  • FII’s bought 5.03 lacs of Futures, most probably long build-up, as their net OI increased by 10022 contracts and the average price per contract comes to around 5906.
  • FII’s future open contract as on date is 345496.
  • PCR Open Interest (Volume) is down again to 1.391 due to huge liquidation seen at 6000-5800PE levels.
  • Support still placed at 5800PE, though liquidation was seen, still OI is above 85.90 lacs and below that at 5700 with OI in excess of 1.08 crore.
  • Resistance at 6000CE, with OI now above 76.88 lacs, and above that at 6100 with OI of 67.15 lacs.
  • Range as per Option Table is 5839 - 5937 and as per VIX is 5826 - 5919 with 5880 as the Pivot.
Option Call for 18-03-2013
Buy Nifty 5900CE above 71 for targets of 88, 111 SL - 65
Buy Nifty 5900PE above 63 for targets of 78, 95 SL - 56

India VIX : 15.16 up by 0.50
Call OI : 37662300
Put OI : 52394800
PCR OI : 1.391
SMR : 10.90 (Bearish to Neutral: Friday saw the Bears back with the psychological level of 5900 wrested from the hands of the Bulls, but range of 5800-6000 is still in play with RBI policy coming in as the decider...)