Monday, April 15, 2013

Option Open Interest for 15-04-2013

Inference
The index opened negative but saw the responsive buyers moving in to take the index from the lows of 5500 to the highs around 5600. The Bears or the responsive sellers who are stationed around 5600 came out to push the index back around 5560 level to close just at 5568.40, still a comfortable gain of 39.85 points. The broader market was also positive, with 699 advances to 575 declines. The Option Table for the time being looks range bound between 5500-5700 level.
  • Call option 5500 & 5700 added 8.33 lacs huge amount of OI with huge liquidation seen at 5600 strike price.
  • Put option 5600-5300 added 34.14 lacs huge amount of OI with profit booking seen at 5200 and lower strike prices.
  • Highest accumulation on Call option 5700 at 84.36 lacs & 5800 at 71.33 lacs whereas Put option 5500 at 83.16 lacs & 5400 at 74.05 lacs.
  • Nifty Open Interest is at 2,14,52,550 up by 12,14,300, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 13,45,975, down by 35,000, with increase in price, most probably huge short covering.
  • FII’s sold huge 1.99 lacs of Futures, most probably short build-up, as their net OI increased by 21622 contracts and the average price per contract comes to around 5586.
  • FII’s future open contract as on date is 474449.
  • PCR Open Interest (Volume) is up at 0.933 due to huge addition at 5500 PE.
  • Support just got better at 5500, with huge addition for the day and now OI above 83.16 lacs and below that at 5400 with OI of 74.0 lacs.
  • Initial Resistance still very much at 5600, though covered huge, but OI still above 64.18 lacs and above that at 5700 with highest OI of 84.4 lacs.
  • Range as per Option Table is 5503 - 5614 and as per VIX is 5520 - 5617 with 5555 as the Pivot.
Option Call for 16-04-2013
Buy Nifty 5500CE above 101 for targets of 119, 143 SL - 95
Buy Nifty 5600PE above 88 for targets of 102, 129 SL - 83

India VIX :16.61 up by 0.16 points
Call OI : 44291550
Put OI : 41332000
PCR OI : 0.933
SMR : 17.80 (Neutral: It’s a Cat and Mouse game on in Nifty with the Bulls coming back just when it seems all is over for them, they have held on to 5500 level on closing basis but the Bears have not given up, protecting 5600 with ease....)