Sunday, March 31, 2013

Option Open Interest for 28-03-2013

Inference
On Expiry day Nifty opened weak and saw a dip towards 5600 in the initial hours of trade, a short covering rally from there-on saw the index move up fast towards 5700, just to close below it at 5682.55, a cool gain of 40.95 points. On a week on week basis the index gained 31.20 points or about 0.6%. The broader market also performed well, with 908 advances to 567 declines. Its initial days and based on OI Table, the range developing for the series is 5600-5900 for the time being.
  • Call option 5300-6100 added 26.16 lacs huge amount of OI with profit booking seen at 6200 and above strike prices.
  • Put option 6300-5300 added 63.04 lacs huge amount of OI.
  • Highest accumulation on Call option 5700 at 36.83 lacs & 6000 at 33.52 lacs whereas Put option 5600 at 62.00 lacs & 5700 at 43.71 lacs.
  • Nifty Open Interest is at 1,11,69,250 up by 19,62,250, with increase in price, most probably huge long build-up at start of series.
  • Bank Nifty Open Interest is at 11,56,675, up by 3,23,200, with increase in price, most probably huge long build-up.
  • FII’s sold 2.38 lacs of Futures, most probably long liquidation, as their net OI decreased by 289666 contracts and the average price per contract comes to around 5714.
  • FII’s future open contract as on date is 264005.
  • PCR Open Interest (Volume) at start of series is comfortably placed at 1.157.
  • Support at start of series looks good at 5600, with OI above 61.99 lacs and below that at 5500 with OI of 31.07 lacs.
  • Resistance building up around 5900-6000 level.
  • Range as per Option Table is 5612 - 5723 and as per VIX is 5637 - 5728 with 5685 as the Pivot.
Option Call for 01-04-2013
Buy Nifty 5700CE above 95 for targets of 109, 123 SL - 86
Buy Nifty 5700PE above 96 for targets of 113, 132 SL - 90

India VIX : 15.22 down by 0.58
Call OI : 23393000
Put OI : 27054950
PCR OI : 1.157
SMR : 13.16 (Neutral: A new series has dawned, and Bulls are in a better shape than the last series, with initial range of 5600-5900 for the time being...)

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