Tuesday, April 9, 2013

Option Open Interest for 09-04-2013

Inference
A gap-up opening and sustained buying saw the index move above 5600 in the morning session but the Bears were waiting for this opportunity and sold in huge quantity to move the index below the psychological level of 5500. Nifty closed at 7-month low at 5495.10, a huge loss of 47.85 points. The broader market was also negative, with just 401 advances to 890 declines. Bears are in no mood to let the Bulls back into the Option Table.
  • Call option 5400-5600 added 23.81 lacs huge amount of OI with profit booking seen at 5700 and above strike prices.
  • Put option 5600, 5400, 5200-5100 added 44.42 lacs huge amount of OI with huge short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 5700 at 85.23 lacs & 5800 at 82.73 lacs whereas Put option 5600 at 58.75 lacs & 5500 at 54.87 lacs.
  • Nifty Open Interest is at 1,82,40,550 up by 10,46,400, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 12,36,875, down by 36,625, with decrease in price, most probably huge long liquidation.
  • FII’s sold just 0.29 lacs of Futures, most probably short build-up, as their net OI increased by 13750 contracts and the average price per contract comes to around 5499.
  • FII’s future open contract as on date is 396199.
  • PCR Open Interest (Volume) is still struggling at 0.784.
  • Support still at 5500, though price is just around that level with OI of 54.87 lacs and below that at 5400.
  • Resistance getting stronger at 5600 with OI now above 60.09 lacs and above that at 5700 with highest OI of 85.23 lacs.
  • Range as per Option Table is 5467 - 5574 and as per VIX is 5447 - 5543 with 5530 as the Pivot.
Option Call for 10-04-2013
Buy Nifty 5600CE above 50 for targets of 67, 85 SL - 45
Buy Nifty 5500PE above 77 for targets of 94, 111 SL - 63

India VIX :16.82 up by 0.05 points
Call OI : 45732950
Put OI : 35873150
PCR OI : 0.784
SMR : 21.44 (Bearish: Every up-move in the market is being sold, with the best opportunity with a gap-up and sustained move being sold vehemently by the Bears. It’s a SELL ON RISE till 200 SMA is not crossed....)