Thursday, April 25, 2013

Option Open Interest for 25-04-2013

Inference
The index opened positive around 5870 and settlement day saw huge short covering rally to take Nifty above 5900 after 26 sessions and closed at the high point of the series at 5916.30, a huge gain of 79.40 points. The broader market was also positive, with 697 advances to 598 declines. Option Table for May Series is tilted towards the Bulls, with not much overhead resistance right now.
  • Call option 5500-6400 added 60.92 lacs huge amount of OI.
  • Put option 6200-5400 added 90.72 lacs huge amount of OI with profit booking seen at 5300 and below strike prices.
  • Highest accumulation on Call option 5900 at 41.67 lacs & 5800 at 34.86 lacs whereas Put option 5800 at 48.66 lacs & 5700 at 45.65 lacs.
  • Nifty Open Interest is at 1,50,17,650 up by 60,51,950, with increase in price, most probably rollover with some long addition.
  • Bank Nifty Open Interest is at 14,56,100, up by 6,88,675, with increase in price, most probably huge rollover with some long addition.
  • FII’s bought huge 62.61 lacs of Futures, most probably short covering, as their net OI decreased by 102440 contracts and the average price per contract comes to around 5962.
  • FII’s future open contract as on date is 298182.
  • PCR Open Interest (Volume) at start of series is comfortably placed at 1.179.
  • Initial support at 5800, with highest OI of 48.66 lacs and below that at 5700 with huge OI of 45.65 lacs.
  • Resistance right now at 6000, with OI of just 33.29 lacs.
  • Range as per Option Table is 5845 - 5960 and as per VIX is 5872 - 5960 with 5900 as the Pivot.
Option Call for 26-04-2013
Buy Nifty 5900CE above 106 for targets of 120, 134 SL - 100
Buy Nifty 5900PE above 94 for targets of 103, 117 SL - 89

India VIX :14.20 down by 0.87 points
Call OI : 25085000
Put OI : 29572050
PCR OI : 1.179
SMR : 12.05 (BULLISH: Bulls had a super expiry with the index closing above 5900, and they have also build good support around 5800-5700 level for the new series....)