Sunday, May 12, 2013

Option Open Interest for 11-05-2013

Inference
Saturday’s special trading saw the Bulls in full command with an open just below the previous day, but moving to the highs around 6115 and closing at 6107.25, a gain of 12.50 points. On a week-on-week basis the index gained 163.25 points or about 2.75%. Nifty had a first close above 6100 in more than 2 years time and seems ready for some more up-move. The broader market was also positive, with 668 advances to 487 declines. Option Table resistance is building up around 6200 level.
  • Call option 6200-6500 added 3.01 lacs huge amount of OI with short covering seen at 6000 and lower strike prices.
  • Put option 6200-6000 added 4.67 lacs huge amount of OI with profit booking seen at 5900 and below strike prices.
  • Highest accumulation on Call option 6200 at 80.24 lacs & 6100 at 54.80 lacs whereas Put option 5800 at 90.27 lacs & 5700 at 85.10 lacs.
  • Nifty Open Interest is at 2,25,06,500 up by 3,100, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 20,04,675, down by 13,725, with increase in price, most probably some short covering.
  • FII’s bought just 2.7 thousand of Futures, most probably short covering, as their net OI decreased by 54 contracts and the average price per contract comes to around 6140.
  • FII’s future open contract as on date is 490908.
  • PCR Open Interest (Volume) is at 1.372.
  • Good Support now at 6000, with huge OI of 63.96 lacs and below that at 5900 with OI of 72.07 lacs.
  • Initial and best resistance at 6200, with highest OI of 80.24 and above that at 6300 with OI of 52.20 lacs.
  • Range as per Option Table is 6047 - 6156 and as per VIX is 6053 - 6161 with 6090 as the Pivot.
Option Call for 13-05-2013
Buy Nifty 6100CE above 100 for targets of 109, 122 SL - 94
Buy Nifty 6100PE above 76 for targets of 86, 100 SL - 70

India VIX : 16.84 down by 0.02
Call OI : 38022750
Put OI : 52162250
PCR OI : 1.372
SMR : 12.28 (Bullish: Nifty gave highest close in 2 years still looking good for more with OI table showing some more upside, but need to be cautious at higher level...)