Monday, March 25, 2013

Option Open Interest for 25-03-2013

Inference
Another day wasted by the Bulls, a gap-up on the back of good global cues saw Nifty scale 5700, but some rumour of Samajwadi Party withdrawing support from the UPA government, spooked the market and the index closed in red at 5633.85 a loss of 17.50 points. The broader market was also weak, with just 555 advances to 963 declines. Based on OI Table, now 5700 look like a good enough resistance and expiry could happen around 5600 level.
  • Call option 5600-5800 added 23.76 lacs huge amount of OI with profit booking seen at 5900 and above strike prices.
  • Put option 5500 added 2.24 lacs huge amount of OI with huge short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 6000 at 84.76 lacs & 5800 at 83.26 lacs whereas Put option 5700 at 75.96 lacs & 5600 at 74.57 lacs.
  • Nifty Open Interest is at 1,31,94,350 down by 2,88,850, with small decrease in price, whereas April series added a whopping 28.82 lacs, 100% rollover with huge short build-up in next series.
  • Bank Nifty Open Interest is at 12,85,075, down by 1,50,725, with decrease in price, whereas April series added 1.71 lacs, 100% rollover with some short build-up in next series.
  • FII’s bought 3.54 lacs of Futures, most probably long build-up, as their net OI increased by 99129 contracts and the average price per contract comes to around 5651.
  • FII’s future open contract as on date is 486880.
  • PCR Open Interest (Volume) is at 0.733.
  • Support still at 5600 though covered some OI for the day and below that at 5500 with OI of just 59.05 lacs.
  • Resistance right now at 5700CE, with OI in excess of 77.1 lacs, and above that at 5800 with OI above 83.3 lacs.
  • Range as per Option Table is 5601 - 5707 and as per VIX is 5586 - 5682 with 5650 as the Pivot.
Option Call for 26-03-2013
Buy Nifty 5700CE above 79 for targets of 95, 118 SL - 75
Buy Nifty 5700PE above 72 for targets of 91, 110 SL - 59

India VIX : 16.36 up by 0.82
Call OI : 50399450
Put OI : 36950400
PCR OI : 0.733
SMR : 22.31 (Bearish: Bears are using every up-move to their advantage, and now have taken control of 5700 level also. Expiry around the lows of the series looks like a huge probability...)