Sunday, March 24, 2013

Option Open Interest for 22-03-2013

Inference
Nifty opened flat to positive and oscillated around the previous day’s close for the better part of the day with a dip towards 5630 being bought and a rise to 5690 being sold. The index ultimately closed flat at 5651.35, a very small loss of 7.40 points. On a week on week basis the index lost huge 3.8% or about 221 points. Though the index lost small but the broader market was weak, with just 457 advances to 1054 declines. Based on OI Table, probable expiry range comes to around 5600-5700.
  • Call option 5600-5800 added 14.01 lacs huge amount of OI with profit booking seen at 5900 and above strike prices.
  • Put option 5600-5500 added 9.37 lacs huge amount of OI with huge short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 6000 at 89.76 lacs & 5900 at 82.34 lacs whereas Put option 5600 at 78.64 lacs & 5700 at 78.57 lacs.
  • Nifty Open Interest is at 1,34,83,200 down by 9,82,050, with small decrease in price, whereas April series added 8.36 lacs, mostly rollover with small long liquidation.
  • Bank Nifty Open Interest is at 14,35,800, down by 1,40,925, with decrease in price, whereas April series added 1.30 lacs, mostly rollover with small long liquidation.
  • FII’s sold 5.57 lacs of Futures, most probably short build-up, as their net OI increased by 18723 contracts and the average price per contract comes to around 5668.
  • FII’s future open contract as on date is 387751.
  • PCR Open Interest (Volume) is at 0.788.
  • Support now shifted down to 5600 with highest OI of 78.64 lacs and below that at 5500 with OI of just 56.8 lacs.
  • Strong resistance at 5800CE, with huge OI in excess of 79.7 lacs, and above that at 5900 with OI above 82.3 lacs.
  • Range as per Option Table is 5606 - 5711 and as per VIX is 5605 - 5697 with 5670 as the Pivot.
Option Call for 25-03-2013
Buy Nifty 5700CE above 32 for targets of 42, 56 SL - 29
Buy Nifty 5700PE above 60 for targets of 79, 98 SL - 55

India VIX :15.54 down by 0.97 points
Call OI : 49633300
Put OI : 39128200
PCR OI : 0.788
SMR : 18.81 (Bearish: Bears are sitting on a huge cushion of resistance ranging from 5700 till 6000, Bulls need to do all the hard work else we could see expiry at the lows of the series...)