Tuesday, April 2, 2013

Option Open Interest for 02-04-2013

Inference
Nifty opened flat to negative and after a few hours of range bound move near the previous day’s close, the index took off to close near the highs at 5748.10, a decent gain of 43.70 points. The broader market was in excellent shape, with 1142 advances to 370 declines. Based on Option table, the Bulls are Back and on the verge of sealing 5700 level.
  • Call option 5700-6000 added 19.04 lacs huge amount of OI with small short covering seen at 5500 and below strike prices.
  • Put option 5800-5300 added 49.69 lacs huge amount of OI with small short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 5900 at 51.80 lacs & 5800 at 44.67 lacs whereas Put option 5600 at 82.64 lacs & 5700 at 57.57 lacs.
  • Nifty Open Interest is at 1,32,05,450 up by 10,89,450, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,24,775, down by 10,800, with increase in price, most probably small short covering.
  • FII’s bought 2.40 lacs of Futures, most probably long build-up, as their net OI increased by 9150 contracts and the average price per contract comes to around 5771.
  • FII’s future open contract as on date is 280115.
  • PCR Open Interest (Volume) is comfortably placed at 1.194.
  • Initial support now at 5700, with OI above 57.57 lacs and below that at 5600 with highest OI of 82.64 lacs.
  • Resistance still very much at 5800 and above that at 5900 with OI above 51.80 lacs.
  • Range as per Option Table is 5682 - 5786 and as per VIX is 5706 - 5791 with 5730 as the Pivot.
Option Call for 03-04-2013
Buy Nifty 5700CE above 114 for targets of 129, 144 SL - 101
Buy Nifty 5800PE above 105 for targets of 120, 136 SL - 99

India VIX : 14.10 down by 0.75
Call OI : 28152900
Put OI : 33627450
PCR OI : 1.194
SMR : 11.80 (Bullish: The 5600 level most probably has been established as a base for the series with OI now above 82.6 lacs, the Bulls are back but still has a long way to go as 5800 and upper levels are still firmly in control of the Bears...)