Tuesday, April 16, 2013

Option Open Interest for 16-04-2013

Inference
The index opened flat and from the word go, the Bulls took charge and did not for a single minute let the Bears to have a look in. The index was up by 2.2%, the highest one day move in many days to close at 5688.95, a huge gain of 120.55 points. The broader market was also positive, with 814 advances to 479 declines. The Option Table has turned Bullish with today’s price action.
  • Call option 5900-6000 added 15.28 lacs huge amount of OI with huge liquidation seen at 5600 and below strike prices.
  • Put option 5700-5500 added 55.35 lacs huge amount of OI with profit booking seen at 5400 and lower strike prices.
  • Highest accumulation on Call option 5700 at 78.63 lacs & 5900 at 72.14 lacs whereas Put option 5600 at 87.11 lacs & 5500 at 86.55 lacs.
  • Nifty Open Interest is at 1,98,21,000 down by 16,31,550, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 15,65,550, up by 2,19,575, with increase in price, most probably huge-huge long build-up.
  • FII’s bought huge 22.45 lacs of Futures, most probably short covering, as their net OI decreased by 44262 contracts and the average price per contract comes to around 5720.
  • FII’s future open contract as on date is 430187.
  • PCR Open Interest (Volume) is up at 1.048 due to huge addition at 5600-5700PE.
  • Support just moved up to 5600, with huge addition for the day and now OI above 87.1 lacs and below that at 5500 with OI of 86.6 lacs.
  • Initial Resistance still very much at 5700, though covered huge, but OI still above 78.63 lacs and above that at 5800 with OI of 69.5 lacs.
  • Range as per Option Table is 5601 - 5716 and as per VIX is 5641 - 5737 with 5665 as the Pivot.
Option Call for 17-04-2013
Buy Nifty 5600CE above 115 for targets of 136, 166 SL - 91
Buy Nifty 5700PE above 90 for targets of 118, 159 SL - 83

India VIX : 16.25 down by 0.36
Call OI : 42533650
Put OI : 44575950
PCR OI : 1.048
SMR : 15.51 (BULLISH: The Bulls turned the table over the Bears with huge-huge addition at 5600-5700PE level with the CE writers running for cover, the Option Table now totally in control of Bulls...)