Friday, May 10, 2013

Option Open Interest for 10-05-2013

Inference
Nifty opened flat and tried to move up in the initial hours of trade, but was sold off to the lows of the day near the previous day’s close. The responsive buyers took control from there onwards and pushed the index over 6100 for the first time in this series, but closed just below at 6094.75, still a huge gain of 44.60 points. The broader market was flat, with 636 advances to 628 declines. Option Table is gearing itself for a base around 6000 and top at 6200 level.
  • Call option 6100-6500 added 25.21 lacs huge amount of OI with short covering seen at 6000 and lower strike prices.
  • Put option 6200-5900 added 18.45 lacs huge amount of OI with profit booking seen at 5800 and below strike prices.
  • Highest accumulation on Call option 6200 at 80.20 lacs & 6100 at 55.17 lacs whereas Put option 5800 at 89.89 lacs & 5700 at 85.35 lacs.
  • Nifty Open Interest is at 2,25,03,400 up by 9,08,950, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 20,18,400, up by 1,81,175, with huge increase in price, most probably huge long build-up.
  • FII’s bought huge 5.55 lacs of Futures, most probably long build-up, as their net OI increased by 24642 contracts and the average price per contract comes to around 6129.
  • FII’s future open contract as on date is 490962.
  • PCR Open Interest (Volume) is at 1.365.
  • Support getting better at 6000, with huge OI of 62.94 lacs and below that at 5900 with OI of 73.16 lacs.
  • Initial resistance still at 6100, but looking weak with OI of just 55.17 lacs and above that at 6200 with OI of 80.20 lacs.
  • Range as per Option Table is 6031 - 6139 and as per VIX is 6041 - 6149 with 6080 as the Pivot.
Option Call for 11-05-2013
Buy Nifty 6000CE above 90 for targets of 103, 116 SL - 81
Buy Nifty 6100PE above 95 for targets of 108, 130 SL - 89

India VIX :16.86 up by 0.26 points
Call OI : 37955350
Put OI : 51797600
PCR OI : 1.365
SMR : 11.79 (Bullish: Nifty closed just shy of 6100, with Option Table still very much in Bull control, but for the first time in this series 6200CE OI has crossed 80 lacs and could be the ceiling as of now...)