Thursday, May 9, 2013

Option Open Interest for 09-05-2013

Inference
Nifty opened flat to positive, but dipped below the previous day’s close level within the first hour of trade, but dip buying saw the index back again at the highs. A sell-off during the last hour of trade saw the index around 6040, but closed just up at 6050.15, still a loss of 19.15 points for the day. The broader market was also weak, with just 531 advances to 762 declines. Option Table has found its first best resistance at 6200 level.
  • Call option 6000-6300 added 10.02 lacs huge amount of OI with short covering seen at 5900 and lower strike prices.
  • Put option 6100-5700 added 16.10 lacs huge amount of OI with profit booking seen at 5600 and below strike prices.
  • Highest accumulation on Call option 6200 at 68.49 lacs & 6100 at 52.95 lacs whereas Put option 5800 at 91.25 lacs & 5700 at 84.29 lacs.
  • Nifty Open Interest is at 2,15,94,450 up by 3,87,800, with small decrease in price, most probably short long build-up.
  • Bank Nifty Open Interest is at 18,37,225, up by 11,325, with decrease in price, most probably small short build-up.
  • FII’s bought huge 5.37 lacs of Futures, most probably long build-up, as their net OI increased by 13387 contracts and the average price per contract comes to around 6066.
  • FII’s future open contract as on date is 466320.
  • PCR Open Interest (Volume) has cooled down to 1.400.
  • Initial support still at 6000, with huge OI of 59.59 lacs and below that at 5900 with OI of 70.98 lacs.
  • Initial resistance at 6100, with OI of just 52.95 lacs and above that at 6200 with OI of 68.49 lacs.
  • Range as per Option Table is 6001 - 6110 and as per VIX is 5998 - 6103 with 6050 as the Pivot.
Option Call for 10-05-2013
Buy Nifty 6000CE above 121 for targets of 130, 145 SL - 116
Buy Nifty 6100PE above 116 for targets of 124, 135 SL - 111

India VIX : 16.60 down by 0.16
Call OI : 36311850
Put OI : 50850200
PCR OI : 1.400
SMR : 12.08 (Bullish: Nifty closed in Red but not much weakness was seen in the Option Table, for the first time the CE writers are making sure of a ceiling around 6200 level...)

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