Thursday, April 11, 2013

Option Open Interest for 11-04-2013

Inference
A repetition of what happened yesterday with the index opening positive and then traded in a narrow range for the better part of the morning session. A huge sell-off saw the index down by 40 points within minutes but the responsive buyers took control from thereon to move the index to the highs of the day around 5610 but closed marginally lower at 5594.00, still a good gain of 35.30 points. The broader market though was just positive, with 686 advances to 595 declines. The Option Table right now is neutral with 5600 acting as pivot.
  • Call option 5900-6000 added 11.33 lacs huge amount of OI with profit booking seen at 5700-5800 strike prices.
  • Put option 5700-5300 added 31.96 lacs huge amount of OI with profit booking seen at 5200 strike price.
  • Highest accumulation on Call option 5700 at 74.46 lacs & 5900 at 73.07 lacs whereas Put option 5500 at 73.68 lacs & 5400 at 70.88 lacs.
  • Nifty Open Interest is at 1,98,32,000 up by 8,01,750, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,89,175, up by 51,875, with increase in price, most probably huge long build-up.
  • FII’s bought huge 4.79 lacs of Futures, most probably long build-up, as their net OI increased by 11284 contracts and the average price per contract comes to around 5602.
  • FII’s future open contract as on date is 430485.
  • PCR Open Interest (Volume) has moved up to 0.940 due to huge addition at 5500PE.
  • Best Support right now at 5500, with OI above 73.7 lacs and below that at 5400 with OI of 70.9 lacs.
  • Resistance now at 5700 with highest OI of 74.5 lacs and above that at 5800 with OI of 69.7 lacs.
  • Range as per Option Table is 5533 - 5640 and as per VIX is 5544 - 5644 with 5585 as the Pivot.
Option Call for 12-04-2013
Buy Nifty 5600CE above 69 for targets of 82, 95 SL - 65
Buy Nifty 5600PE above 84 for targets of 102, 126 SL - 79

India VIX :16.97 up by 0.48 points
Call OI : 43554300
Put OI : 40920050
PCR OI : 0.940
SMR : 18.06 (Neutral: The Bulls are really back with 5500 level more or less sealed for the series, the only worrying factor being the index still below 200SMA, and PCR at 0.940....)