Monday, March 18, 2013

Option Open Interest for 18-03-2013

Inference
Nifty opened negative on the back of weak global cues, stayed in a small range of 36 points and closed around the lows at 5835.25 a loss of 37.35 points. The broader market was also weak, with just 504 advances to 984 declines. The Bears are taking a firm grip of the Option Interest table with each passing day.
  • Call option 5800-6000 added 18.72 lacs of OI with profit booking seen at 6100 and above strike prices.
  • Put Option 5800, 5600-5500 added 16.41 lacs huge amount of OI short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 85.89 lacs & 6100 at 66.18 lacs whereas Put option 5700 at 1.08 crore & 5800 at 88.21 crore.
  • Nifty Open Interest is at 1,52,65,850 up by 2,86,900, with decrease in price, mostly probably short build-up.
  • Bank Nifty Open Interest is at 14,06,150, down by 30,650, with decrease in price, most probably long liquidation.
  • FII’s sold 11.95 lacs of Futures, most probably short build-up, as their net OI increased by 16992 contracts and the average price per contract comes to around 5860.
  • FII’s future open contract as on date is 362488.
  • PCR Open Interest (Volume) is again down to 1.340 due to huge liquidation seen at 5900-6000PE levels.
  • Support is very good at 5800PE, with OI above 88.2 lacs and below that at 5700 with OI in excess of 1.08 crore.
  • Initial resistance right now at 5900CE, with OI now crossing 63.1 lacs, and above that at 6000 with OI of 85.89 lacs.
  • Range as per Option Table is 5785 - 5883 and as per VIX is 5787 - 5884 with 5850 as the Pivot.
Option Call for 19-03-2013
Buy Nifty 5900CE above 41 for targets of 48, 60 SL - 36
Buy Nifty 5900PE above 43 for targets of 51, 59 SL - 39

India VIX :15.85 up by 0.69 points
Call OI : 39277450
Put OI : 52650000
PCR OI : 1.340
SMR : 11.82 (Bearish to Neutral: The Bears did not give any chance to the Bulls to get back in the game with a close below 5840, tomorrow could be the decider for this series...)