Monday, April 1, 2013

Option Open Interest for 01-04-2013

Inference
Nifty opened positive and moved to the highs of the day within minutes of trade. The sellers were waiting for this opportunity and moved the index below the dotted line, but the resurgent buyers pushed the index again above 5700 level and closed above it at 5704.40, a small gain of 21.85 points. The broader market was in excellent shape, with 1146 advances to 372 declines. Based on Option table 5700 now is turning out to be pivot.
  • Call option 5600-6200 added 39.91 lacs huge amount of OI with small short covering seen at 5500 and above strike prices.
  • Put option 5700-5500, 5300 added 25.31 lacs huge amount of OI with short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 5900 at 43.55 lacs & 5800 at 40.50 lacs whereas Put option 5600 at 73.45 lacs & 5700 at 47.67 lacs.
  • Nifty Open Interest is at 1,21,16,150 up by 9,46,900, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,35,575, up by 78,900, with increase in price, most probably huge long build-up.
  • FII’s sold 7.30 lacs of Futures, most probably short build-up, as their net OI increased by 6960 contracts and the average price per contract comes to around 5729.
  • FII’s future open contract as on date is 270965.
  • PCR Open Interest (Volume) is just above 1 and now at 1.079.
  • Support gaining momentum at 5700, with OI above 47.45 lacs and below that at 5600 with highest OI of 73.45 lacs.
  • Resistance right now at 5800 and above that at 5900 with OI just above 43.55 lacs.
  • Range as per Option Table is 5646 - 5758 and as per VIX is 5660 - 5749 with 5705 as the Pivot.
Option Call for 02-04-2013
Buy Nifty 5700CE above 94 for targets of 105, 117 SL - 89
Buy Nifty 5700PE above 75 for targets of 83, 96 SL - 69

India VIX :14.85 down by 0.37 points
Call OI : 26790200
Put OI : 28919450
PCR OI : 1.079
SMR : 13.76 (Neutral: The 5600-5700PE writers are making sure of base whereas the CE writers are adding mainly from 5800 and above levels. Range bound days coming for the time being...)