Sunday, April 21, 2013

Option Open Interest for 18-04-2013

Inference
The index opened flat and took off after a small dip towards the previous day’s close to eke out a huge 94.40 points, just a few points away from the psychological level of 5800 to close at 5783.10. It was one of the best week for the index with a gain of 254.55 points or 4.6%. The broader market was also positive, with 784 advances to 503 declines. The Option Table is truly in control of the Bulls with 5800 within reach.
  • Call option 5800 added 5.39 lacs huge amount of OI with huge liquidation seen at 5700 and below strike prices.
  • Put option 5800-5500 added 55.19 lacs huge amount of OI with profit booking seen at 5400 and below strike prices.
  • Highest accumulation on Call option 5800 at 78.60 lacs & 5900 at 71.30 lacs whereas Put option 5600 at 1.11 crore & 5500 at 84.78 lacs.
  • Nifty Open Interest is at 1,75,89,700 down by 14,19,200, whereas May series added 12.18 lacs, with huge increase in price, most probably short covering in current series.
  • Bank Nifty Open Interest is at 18,80,825, up by 1,55,775, whereas May series also added 0.66 lacs with increase in price, most probably huge-huge long build-up.
  • FII’s bought huge 13.57 lacs of Futures, most probably short covering, as their net OI decreased by 5034 contracts and the average price per contract comes to around 5823.
  • FII’s future open contract as on date is 417005.
  • PCR Open Interest (Volume) has jumped to 1.371, the best of the series due to huge liquidation at 5700CE.
  • Best support has just moved up to 5700, with huge addition for the day at 12.60 lacs and below that at 5600 with OI of 1.11 crore.
  • Initial Resistance right now at 5800, with OI of 78.60 lacs and above that at 5900 with OI of 71.30 lacs.
  • Range as per Option Table is 5703 - 5818 and as per VIX is 5737 - 5830 with 5760 as the Pivot.
Option Call for 22-04-2013
Buy Nifty 5700CE above 97 for targets of 118, 142 SL - 80
Buy Nifty 5800PE above 70 for targets of 89, 117 SL - 65

India VIX : 15.36 down by 1.00
Call OI : 35232050
Put OI : 48309650
PCR OI : 1.371
SMR : 11.20 (BULLISH: The Bulls have turned the table on the Bears with 50% downside wiped out in just a single week, and now Bears again need to do all the hard work to come back or else it’s Bulls all the way till Expiry...)