Thursday, May 2, 2013

Option Open Interest for 02-05-2013

Inference
Nifty opened flat, but gathered momentum to move higher with each passing hour to end strong at 5999.35, after making a high of 6019.45, a huge gain of 69.15 points. The up-move for today seems to be in anticipation of a good CRR cut from the RBI governor tomorrow. The broader market was also positive, with 768 advances to 530 declines. Option Table support has jumped to 5900 level.
  • Call option 5900-6400 added 57.30 lacs huge amount of OI with short covering seen at 5800 and below strike prices.
  • Put option 6200-5500 added 55.85 lacs huge amount of OI with profit booking seen at 5400 and lower strike prices.
  • Highest accumulation on Call option 5900 at 54.60 lacs & 6000 at 52.38 lacs whereas Put option 5700 at 68.79 lacs & 5800 at 65.61 lacs.
  • Nifty Open Interest is at 1,87,19,400 up by 21,91,300, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 17,10,175, up by 1,70,075, with increase in price, most probably huge long build-up.
  • FII’s bought huge 11.14 lacs of Futures, most probably long build-up, as their net OI increased by 46929 contracts and the average price per contract comes to around 6036.
  • FII’s future open contract as on date is 401493.
  • PCR Open Interest (Volume) is at 1.167.
  • Initial support now moved up to 5900, with huge addition of more than 20.37 lacs for the day and below that at 5800 with OI of 65.61 lacs.
  • Resistance still at 6000, though Nifty Spot is trading at 5999.35, with huge OI of 52.38 lacs and above that at 6100 with OI of 50.84 lacs.
  • Range as per Option Table is 5924 - 6039 and as per VIX is 5948 - 6050 with 5995 as the Pivot.
Option Call for 03-05-2013
Buy Nifty 6000CE above 102 for targets of 120, 145 SL - 91
Buy Nifty 5900PE above 106 for targets of 121, 146 SL - 102

India VIX :16.28 up by 1.18 points
Call OI : 34530250
Put OI : 40309750
PCR OI : 1.167
SMR : 13.95 (BULLISH: Nifty crossed 6000 for the day, but OI Table seems to be lagging, tomorrow could be the decider for the series, and stay cautions at higher level.....)