Wednesday, April 10, 2013

Option Open Interest for 10-04-2013

Inference
A flat to positive opening saw the index trading in a narrow range during most of the most of the morning session. A huge sell-off saw the index down by 50 points within minutes but the responsive buyers took the opportunity and moved the index to the highs of the day around 5565 to close just below it at 5558.70, still a good gain of 63.60 points. The broader market though was just positive, with 669 advances to 613 declines. The Option Table is still tilted very much towards the Bears.
  • Call option 5300 added 2.48 lacs huge amount of OI with profit booking seen at 5600 and above strike prices.
  • Put option 5500-5200 added 30.77 lacs huge amount of OI with huge short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 5700 at 83.09 lacs & 5800 at 77.40 lacs whereas Put option 5400 at 64.45 lacs & 5500 at 61.40 lacs.
  • Nifty Open Interest is at 1,90,30,250 up by 7,89,700, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,37,300, up by 425, with increase in price, most probably small long build-up.
  • FII’s sold 3.90 lacs of Futures, most probably short build-up, as their net OI increased by 23002 contracts and the average price per contract comes to around 5566.
  • FII’s future open contract as on date is 419201.
  • PCR Open Interest (Volume) has jumped to 0.857 due to huge addition at 5400PE.
  • Support right now at 5500, with OI just above 61.4 lacs and below that at 5400 with OI of 64.45 lacs.
  • Resistance still at 5600 with OI now just below 60 lacs and above that at 5700 with highest OI of 83.09 lacs.
  • Range as per Option Table is 5488 - 5596 and as per VIX is 5511 - 5607 with 5545 as the Pivot.
Option Call for 11-04-2013
Buy Nifty 5600CE above 55 for targets of 67, 79 SL - 47
Buy Nifty 5500PE above 59 for targets of 74, 92 SL - 54

India VIX : 16.49 down by 0.33
Call OI : 44651050
Put OI : 38247950
PCR OI : 0.857
SMR : 19.25 (Bearish to Neutral: The Bulls are back after a long time, or it’s just a flash in the pan, tomorrow we could get the answer, but the index is still way below 200SMA, so stay cautious...)