Thursday, April 4, 2013

Option Open Interest for 04-04-2013


Inference
Nifty opened weak and remained range bound for the initial hours of trade but got sold off in the afternoon session to touch 5565, and closed just above at 5574.75, a huge loss of 98.15 points. In the last two session of the index has lost more than 3% and closed below the psychological level of 5600 for the first time this year. The broader market was also very weak, with just 359 advances to 1155 declines. Bears are all over the Option Table and now a miracle can only save the Bulls.
  • Call option 5400-5900 added 66.78 lacs huge amount of OI with profit booking seen at 6000 and above strike prices.
  • Put option 5500-5200 added 34.61 lacs huge amount of OI with huge short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 5700 at 70.42 lacs & 5800 at 69.37 lacs whereas Put option 5600 at 70.41 lacs & 5500 at 53.57 lacs.
  • Nifty Open Interest is at 1,56,44,000 up by 11,55,900, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 12,47,850, down by 23,525, with decrease in price, most probably huge long liquidation.
  • FII’s sold HUGE 17.51 lacs of Futures, most probably short build-up, as their net OI increased by 28883 contracts and the average price per contract comes to around 5594.
  • FII’s future open contract as on date is 347695.
  • PCR Open Interest (Volume) has crashed to 0.882, due to huge addition at 5600-5700CE levels.
  • Support now at 5500, with OI above 53.56 lacs and below that at 5300.
  • Resistance right now at 5600 with huge addition for the day at 21.0 lacs and above that at 5700 with OI above 70.42 lacs.
  • Range as per Option Table is 5537 - 5644 and as per VIX is 5529 - 5621 with 5595 as the Pivot.
Option Call for 05-04-2013
Buy Nifty 5600CE above 88 for targets of 103, 130 SL - 84
Buy Nifty 5600PE above 84 for targets of 97, 110 SL - 76

India VIX : 15.85 up by 0.98
Call OI : 37963500
Put OI : 33471000
PCR OI : 0.882
SMR : 17.98 (Bearish: As said yesterday, the Bears followed up their selling spree and got a close below the psychological level of 5600 for the first time this year. Selling on rise looks the best option as per OI Table...)