Monday, April 22, 2013

Option Open Interest for 22-04-2013

Inference
The index opened positive and after a small up move towards 5835 saw a dip below 5800 which was promptly bought. From there on the index gathered steam and went above 5840 to close around the highs of the day at 5834.40, a huge gain of 51.30 points and in the process closed above the psychological level of 5800 after 22 sessions. The broader market was also positive, with 832 advances to 469 declines. The Option Table is delicately placed with 5800 as the Pivot.
  • Call option 5900-6000 added 7.38 lacs huge amount of OI with huge liquidation seen at 5800 and below strike prices.
  • Put option 5900-5800 added 24.96 lacs huge amount of OI with profit booking seen at 5700 and below strike prices.
  • Highest accumulation on Call option 5900 at 76.62 lacs & 5800 at 62.70 lacs whereas Put option 5600 at 97.31 lacs & 5700 at 71.59 lacs.
  • Nifty Open Interest is at 1,42,56,250 down by 33,33,450, whereas May series added 27.29 lacs, with huge increase in price, most probably rollover with some short covering in current series.
  • Bank Nifty Open Interest is at 16,22,825, down by 2,58,000, whereas May series also added 2.35 lacs with increase in price, most probably huge rollover with some short covering in current series.
  • FII’s bought huge 20.40 lacs of Futures, most probably short covering, as their net OI decreased by 24977 contracts and the average price per contract comes to around 5882.
  • FII’s future open contract as on date is 392028.
  • PCR Open Interest (Volume) has jumped to 1.447, the best of the series due to huge liquidation at 5700-5800CE.
  • Support at 5700, with huge OI of 71.59 lacs and below that at 5600 with highest OI of 97.3 lacs.
  • Initial and best Resistance right now at 5900, with OI of 76.62 lacs.
  • Range as per Option Table is 5767 - 5884 and as per VIX is 5785 - 5884 with 5810 as the Pivot.
Option Call for 23-04-2013
Buy Nifty 5800CE above 52 for targets of 63, 74 SL - 46
Buy Nifty 5800PE above 26 for targets of 34, 47 SL - 22

India VIX :16.22 up by 0.86 points
Call OI : 30910150
Put OI : 44711800
PCR OI : 1.447
SMR : 11.21 (BULLISH: The Bulls have very much made sure that they will enjoy upper-hand during expiry with a close above 5800, with just 2 sessions to go, it seems all over for the Bears for this series....)