Monday, May 6, 2013

Option Open Interest for 06-05-2013

Inference
Nifty opened flat, but weakened to the lows of the day at 5930, but the responsive buyers took control and moved the index in positive territory and at the highs of the day around 5980. A small sell-off saw the index again around the previous day’s close, but Bulls came back to close the day strong at 5791.05, a gain of 27.05 points. The broader market also performed well, with 772 advances to 527 declines. Option Table is firmly in Bull control with 5800 level now acting as super support.
  • Call option 6200-6400 added 3.09 lacs huge amount of OI with short covering seen at 5900 and below strike prices.
  • Put option 6000-5500 added 13.91 lacs huge amount of OI with short covering seen at 6300 and above strike prices.
  • Highest accumulation on Call option 6000 at 55.10 lacs & 6100 at 53.30 lacs whereas Put option 5800 at 76.12 lacs & 5700 at 72.12 lacs.
  • Nifty Open Interest is at 1,91,27,850 up by 6,36,750, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 17,32,525, up by 8,575, with increase in price, most probably some long build-up.
  • FII’s bought huge 7.10 lacs of Futures, most probably long build-up, as their net OI increased by 21579 contracts and the average price per contract comes to around 5989.
  • FII’s future open contract as on date is 429283.
  • PCR Open Interest (Volume) is increasing fast and now at 1.275.
  • Support getting stronger at 5900, with OI now above 53.3 lacs and below that at 5800 with highest OI of 76.12 lacs.
  • Resistance getting weaker at 6000, with OI decreasing by 0.46 lacs and above that at 6100 with OI of 53.30 lacs.
  • Range as per Option Table is 5905 - 6017 and as per VIX is 5922 - 6021 with 5970 as the Pivot.
Option Call for 07-05-2013
Buy Nifty 6000CE above 73 for targets of 82, 92 SL - 69
Buy Nifty 5900PE above 67 for targets of 74, 88 SL - 61

India VIX :15.84 up by 0.29 points
Call OI : 34298300
Put OI : 43735100
PCR OI : 1.275
SMR : 12.42 (Bullish: Bulls are back in business after the hiccup of Friday, with foot firmly grounded at 5800 level. Bears are on the way out with none of the strike OI above 60 lacs though still early days for the series...)