Tuesday, May 7, 2013

Option Open Interest for 07-05-2013

Inference
Nifty opened positive, and stayed within a small range for the better part of the morning session, but took off after the consolidation to the highs of the day to end very strong at 6043.55, a huge gain of 72.50 points. The broader market also performed well, with 793 advances to 518 declines. Option Table is truly and firmly in control of the Bulls with huge liquidation seen at 6100 and below CE levels.
  • Call option 6200-6500 added 26.98 lacs huge amount of OI with short covering seen at 6100 and below strike prices.
  • Put option 6100-5500 added 60.65 lacs huge amount of OI with profit booking seen at 5500 and below strike prices.
  • Highest accumulation on Call option 6200 at 56.14 lacs & 6100 at 50.33 lacs whereas Put option 5800 at 85.21 lacs & 5700 at 75.94 lacs.
  • Nifty Open Interest is at 2,08,08,000 up by 16,80,150, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 18,16,825, up by 84,300, with increase in price, most probably huge long build-up.
  • FII’s bought huge 8.99 lacs of Futures, most probably long build-up, as their net OI increased by 31232 contracts and the average price per contract comes to around 6070.
  • FII’s future open contract as on date is 460515.
  • PCR Open Interest (Volume) has jumped to 1.365.
  • Initial support jumping up at 6000, with huge OI addition of 21.83 lacs for the day and below that at 5900 with OI of 64.47 lacs.
  • Weak resistance now at 6100, with OI of just 50.33 lacs and above that at 6200 with OI of 56.14 lacs.
  • Range as per Option Table is 5973 - 6085 and as per VIX is 5991 - 6096 with 6020 as the Pivot.
Option Call for 08-05-2013
Buy Nifty 6000CE above 118 for targets of 133, 149 SL - 106
Buy Nifty 6100PE above 128 for targets of 142, 158 SL - 123

India VIX : 16.50 up by 0.66
Call OI : 35401150
Put OI : 48337900
PCR OI : 1.365
SMR : 12.08 (Bullish: Bears have lost all hope and the Bulls are in huge advantage with support now shifting towards 5900 and no meaningful resistance in sight...)