Monday, May 13, 2013

Option Open Interest for 13-05-2013

Inference
Nifty after the weekend opened flat, but saw huge sell-off from the word go and erased most of the gain of last week in a single session. The index closed below the psychological level of 6000 after making a high of 6105, at 5980.45, a huge loss of 126.80 points. The broader market was also very weak, with just 319 advances to 952 declines. Option Table after many days saw huge chink and now the Bears are back 6000 level with huge addition of 13.8 lacs for the day.
  • Call option 6000-6100 added 19.37 lacs huge amount of OI with profit booking seen at 6200 and above strike prices.
  • Put option 5700 added 1.15 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6200 at 78.60 lacs & 6100 at 60.33 lacs whereas Put option 5700 at 86.26 lacs & 5800 at 85.50 lacs.
  • Nifty Open Interest is at 2,13,08,300 down by huge 11,98,200, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 18,71,425, down by 1,33,250, with decrease in price, most probably huge long liquidation.
  • FII’s sold 0.66 lacs of Futures, most probably long liquidation, as their net OI decreased by 20842 contracts and the average price per contract comes to around 6018.
  • FII’s future open contract as on date is 470066.
  • PCR Open Interest (Volume) is down to 1.285.
  • Good Support still at 5900, with huge OI of 65.92 lacs and below that at 5800 with huge OI of 85.50 lacs.
  • Initial resistance at 6000, with huge addition for the day at 13.84 lacs and above that at 6100 with OI of 60.33 lacs.
  • Range as per Option Table is 5955 - 6063 and as per VIX is 5926 - 6035 with 6000 as the Pivot.
Option Call for 14-05-2013
Buy Nifty 6000CE above 104 for targets of 120, 142 SL - 99
Buy Nifty 6000PE above 88 for targets of 100, 116 SL - 74

India VIX :17.51 up by 0.67 points
Call OI : 38965150
Put OI : 50078300
PCR OI : 1.285
SMR : 11.79 (Neutral with Bearish Undertone: Did the previous day’s caution helped? Nifty could stay above 6100 just for 1 day and saw huge liquidation which took the index below 6000 with Option Table now neutral with higher level beyond 6100 out of bounds for the Bulls...)