Wednesday, April 17, 2013

Option Open Interest for 17-04-2013

Inference
The index opened positive, but went to touch the previous day’s close within the first few minutes of trade. From there on the index moved up to scale 5730, but was unable to sustain the highs and closed flat at 5688.70, a miniscule loss of 0.25 points. The broader market was flat, with 640 advances to 638 declines. The Option Table now has OI of more than 1 crore at 5600PE level.
  • Call option 5700-6000 added 16.09 lacs huge amount of OI with huge liquidation seen at 5600 and below strike prices.
  • Put option 5800-5600 added 29.10 lacs huge amount of OI with profit booking seen at 5500 and lower strike prices.
  • Highest accumulation on Call option 5700 at 83.64 lacs & 5900 at 78.99 lacs whereas Put option 5600 at 1.02 crore & 5500 at 77.42 lacs.
  • Nifty Open Interest is at 1,90,08,900 down by 8,12,100, whereas May series added just 2.42 lacs, with no change in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 17,25,050, up by 1,59,500, whereas May series also added small 0.19 lacs with increase in price, most probably huge-huge long build-up.
  • FII’s bought huge 7.07 lacs of Futures, most probably short covering, as their net OI decreased by 8148 contracts and the average price per contract comes to around 5727.
  • FII’s future open contract as on date is 422039.
  • PCR Open Interest (Volume) is up again and now at 1.091 due to huge addition at 5600-5700PE.
  • Best support at 5600, with OI above 1.02 crore and below that at 5500 with OI of 77.4 lacs.
  • Initial Resistance still at 5700, with OI now again above 83.64 lacs and above that at 5800 with OI of 73.2 lacs.
  • Range as per Option Table is 5639 - 5752 and as per VIX is 5640 - 5737 with 5690 as the Pivot.
Option Call for 18-04-2013
Buy Nifty 5700CE above 49 for targets of 63, 82 SL - 44
Buy Nifty 5700PE above 54 for targets of 69, 87 SL - 49

India VIX :16.36 up by 0.11 points
Call OI : 41186800
Put OI : 44945450
PCR OI : 1.091
SMR : 14.99 (BULLISH: The Bulls are still in control, but the only hitch being though Nifty traded above 5700 for long duration of time but unable to close above it, need to do it tomorrow or else Bears may make a comeback....)