Monday, April 8, 2013

Option Open Interest for 08-04-2013

Inference
Nifty opened flat, and after a small up-move, saw the Bears coming back to move the index just below 5540. Bulls tried to their best to come back but it was all in vain as Nifty again closed in red at 5542.95, a small loss of 10.30 points. The broader market was also negative, with just 548 advances to 734 declines. Bears have a ceiling in place at 5700 with OI now above 87.1 lacs.
  • Call option 5500-5800 added 19.91 lacs huge amount of OI with profit booking seen at 5900 and above strike prices.
  • Put option 5500-5400 added 4.42 lacs huge amount of OI with huge short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 5700 at 87.15 lacs & 5800 at 85.00 lacs whereas Put option 5500 at 56.77 lacs & 5600 at 55.07 lacs.
  • Nifty Open Interest is at 1,71,94,150 up by 5,44,500, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 12,73,500, up by 47,075, with decrease in price, most probably huge short build-up.
  • FII’s sold HUGE 5.84 lacs of Futures, most probably short build-up, as their net OI increased by 12269 contracts and the average price per contract comes to around 5556.
  • FII’s future open contract as on date is 382449.
  • PCR Open Interest (Volume) is down to the lowest of the series at 0.734.
  • Support at 5500, with OI just above 56.7 lacs and below that at 5400.
  • Resistance getting stronger at 5600 with OI now above 54.8 lacs and above that at 5700 with highest OI of 87.15 lacs.
  • Range as per Option Table is 5498 - 5601 and as per VIX is 5494 - 5592 with 5670 as the Pivot.
Option Call for 09-04-2013
Buy Nifty 5600CE above 60 for targets of 66, 75 SL - 55
Buy Nifty 5600PE above 97 for targets of 106, 117 SL - 90

India VIX : 16.77 up by 0.61
Call OI : 44069000
Put OI : 32358550
PCR OI : 0.734
SMR : 22.84 (Bearish: No change of fortune for the Bulls though they were not butchered like last week. Consolation up-move is also not coming for them, but SMR above 22.8, so new shorts need to be cautious...)