Wednesday, May 15, 2013

Option Open Interest for 15-05-2013

Inference
Nifty opened just positive and went higher and higher with each passing hour to scale one psychological level after another to end at 28 months high at 6146.75, with a huge gain for the day at 151.35 points and in process covered all that was lost on Monday with a few more. The broader market also performed well, with just 865 advances to 424 declines. The PE writers have added huge from 600-6200 levels and now support is placed at 6000.
  • Call option 6100, 6300-6500 added 33.32 lacs huge amount of OI with huge short covering seen at 6000 and below strike prices.
  • Put option 6300-5900 added 60.08 lacs huge amount of OI with profit booking seen at 5800 and lower strike prices.
  • Highest accumulation on Call option 6200 at 68.70 lacs & 6100 at 61.30 lacs whereas Put option 5800 at 87.79 lacs & 5900 at 79.33 lacs.
  • Nifty Open Interest is at 2,50,92,300 up by huge 25,48,600, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 20,76,375, up by 1,69,575, with huge increase in price, most probably long build-up.
  • FII’s bought 4.05 lacs of Futures, most probably long build-up, as their net OI increased by 24963 contracts and the average price per contract comes to around 6189.
  • FII’s future open contract as on date is 534261.
  • PCR Open Interest (Volume) is now up at 1.412.
  • Support jumped up at 6000, with huge addition for the day and now OI above 73.33 lacs and below that at 5900 with huge OI of 79.11 lacs.
  • Initial and best resistance at 6200, with highest OI on call side at 68.70 lacs.
  • Range as per Option Table is 6064 - 6175 and as per VIX is 6088 - 6205 with 6110 as the Pivot.
Option Call for 16-05-2013
Buy Nifty 6100CE above 121 for targets of 135, 157 SL - 98
Buy Nifty 6100PE above 79 for targets of 92, 109 SL - 76

India VIX :18.13 up by 0.96 points
Call OI : 38905300
Put OI : 54946250
PCR OI : 1.412
SMR : 12.84 (Bullish: The Bulls returned with a bang and closed at multi-year high erasing all the loss of Monday with firm control of Option Table, new highs may be waiting...)