Thursday, May 16, 2013

Option Open Interest for 16-05-2013

Inference
Nifty opened weak after the huge up-move of yesterday, but the responsive buyer were just waiting for this dip, grabbed the opportunity and moved index up, just shy of 6200. The index stayed within a small range of 25 points after that and ultimately ended the day in-between at 6169.90, still a good gain of 23.15. The broader market though was weak, with just 636 advances to 662 declines. Bulls have added huge from 6000-6200PE and now 6000 is the best support.
  • Call option 6200-6600 added 20.10 lacs huge amount of OI with huge short covering seen at 6100 and below strike prices.
  • Put option 6500-6000 added 21.98 lacs huge amount of OI with profit booking seen at 5900 and lower strike prices.
  • Highest accumulation on Call option 6200 at 71.45 lacs & 6400 at 58.96 lacs whereas Put option 6000 at 79.16 lacs & 5900 at 76.20 lacs.
  • Nifty Open Interest is at 2,56,06,700 up by huge 5,14,400, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 20,72,075, down by 4,300, with huge increase in price, most probably small short covering.
  • FII’s bought 0.97 lacs of Futures, most probably long build-up, as their net OI increased by 24122 contracts and the average price per contract comes to around 6207.
  • FII’s future open contract as on date is 558383.
  • PCR Open Interest (Volume) is hovering above 1.4 and now at 1.401.
  • Good Support at 6000, with highest OI of 79.16 lacs and below that at 5900 with huge OI of 76.20 lacs.
  • Initial and best resistance at 6200, with highest OI on call side at 71.45 lacs.
  • Range as per Option Table is 6104 - 6223 and as per VIX is 6113 - 6227 with 6150 as the Pivot.
Option Call for 17-05-2013
Buy Nifty 6200CE above 68 for targets of 83, 99 SL - 64
Buy Nifty 6100PE above 54 for targets of 63, 77 SL - 50

India VIX : 17.74 down by 0.39
Call OI : 39590200
Put OI : 55469150
PCR OI : 1.401
SMR : 12.66 (Bullish: A perfect consolidation day after the huge up-move of yesterday, with Bulls making sure that the support keeps on rising with each passing day, need to be cautious in unchartered territory...)