Thursday, March 21, 2013

Option Open Interest for 21-03-2013

Inference
Nifty opened positive and after a small dip below the previous day’s close, went up fast towards 5755. The responsive sellers were waiting for this opportunity and moved the index back below the dotted line to close near the lows of the day at 5658.75, a loss of 35.65 points. The broader market was also weak, with just 406 advances to 1111 declines. Needless to say that the Bears are in full control of Option Table.
  • Call option 5600-5800 added 22.39 lacs huge amount of OI with profit booking seen at 6000 and above strike prices.
  • Not much addition in any Put Option seen but huge short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 6000 at 95.77 lacs & 5900 at 82.87 lacs whereas Put option 5700 at 81.39 lacs & 5600 at 70.33 lacs.
  • Nifty Open Interest is at 1,50,68,500 down by 6,03,250, with decrease in price, whereas April series added 4.30 lacs, mostly rollover with huge long liquidation.
  • Bank Nifty Open Interest is at 15,76,725, down by 71,250, with decrease in price, whereas April series added just 8150, not much rollover but mostly long liquidation.
  • FII’s sold 2.25 lacs of Futures, most probably long liquidation, as their net OI decreased by 28 contracts and the average price per contract comes to around 5664.
  • FII’s future open contract as on date is 369028.
  • PCR Open Interest (Volume) is at 0.798.
  • Highest OI on PE side at 5700, but price below it, next support at 5600 with OI of 70.33 lacs.
  • Strong resistance right now at 5800CE, with huge OI now in excess of 78.5 lacs, and above that at 5900 with OI above 82.87 lacs.
  • Range as per Option Table is 5630 - 5734 and as per VIX is 5610 - 5708 with 5690 as the Pivot.
Option Call for 22-03-2013
Buy Nifty 5700CE above 53 for targets of 76, 105 SL - 49
Buy Nifty 5700PE above 71 for targets of 90, 110 SL - 57

India VIX : 16.51 down by 0.15
Call OI : 49883350
Put OI : 39813150
PCR OI : 0.798
SMR : 20.69 (Bearish: Bulls got a golden chance to comeback, but the Bears just decimated them with another close below 5700. SMR just above 20.69, time to be cautious with new shorts...)