Wednesday, March 27, 2013

Option Open Interest for 26-03-2013

Inference
Nifty had a range bound but volatile day with the index flirting with the previous day’s close and ending just above at 5641.60 a small gain of just 7.75 points. It was a positive day after 7 days of continuous red with a cumulative fall of more than 275 points. The broader market though was weak, with just 657 advances to 831 declines. Based on OI Table, expiry could happen in the range of 5580-5670.
  • Call option 5600 added 11.05 lacs huge amount of OI with profit booking seen at 5700 and above strike prices.
  • Put option 5600-5500 added 11.24 lacs huge amount of OI with huge short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 6000 at 77.97 lacs & 5700 at 69.72 lacs whereas Put option 5600 at 80.39 lacs & 5500 at 64.47 lacs.
  • Nifty Open Interest is at 1,21,60,600 down by 10,33,750, with no change in price, whereas April series added a whopping 23.74 lacs, 100% rollover with huge short build-up in next series.
  • Bank Nifty Open Interest is at 11,83,450, down by 1,01,625, with increase in price, whereas April series added 3.95 lacs, 100% rollover with some long build-up in next series.
  • FII’s sold 6.74 lacs of Futures, most probably short build-up, as their net OI increased by 66791 contracts and the average price per contract comes to around 5649.
  • FII’s future open contract as on date is 553671.
  • PCR Open Interest (Volume) is at 0.737.
  • Support looking good at 5600, with OI above 80.39 lacs and below that at 5500 with OI of just 64.47 lacs.
  • Resistance right now at 5700CE, with OI in excess of 69.7 lacs, and above that at 5800 with OI in excess of 68.4 lacs.
  • Range as per Option Table is 5586 - 5691 and as per VIX is 5595 - 5688 with 5650 as the Pivot.
Option Call for 28-03-2013
Buy Nifty 5600CE above 52 for targets of 63, 77 SL - 48
Buy Nifty 5700PE above 70 for targets of 84, 102 SL - 65

India VIX :15.80 down by 0.56 points
Call OI : 46788850
Put OI : 34470200
PCR OI : 0.737
SMR : 21.45 (Bearish: Expiry has boiled down to the level of 5600-5700, with 5600CE writers making sure that it happens around the lower end of the range, but a gap-up can bring in short covering and the 5600CE writers of today will be in spot of bother...)