Monday, May 20, 2013

Option Open Interest for 20-05-2013

Inference
Nifty opened positive and stayed in a small range of 20 points for the first few hours of trade, but started selling off in the afternoon session to lows of the day at 6146 but closed just above at 6156.90, still a good loss of 30.40 points. The broader market was also weak, with just 542 advances to 759 declines. Range playing out as per Option Table right now is 6000-6250.
  • Call option 6300-6400 added 7.86 lacs huge amount of OI with huge short covering seen at 6100 and below strike prices.
  • Put option 6300 added 2.06 lacs huge amount of OI with profit booking seen at 6000 and lower strike prices.
  • Highest accumulation on Call option 6200 at 71.36 lacs & 6300 at 60.28 lacs whereas Put option 6000 at 77.22 lacs & 5900 at 72.48 lacs.
  • Nifty Open Interest is at 2,57,61,900 up by 1,18,250, with decrease in price, most probably some short build-up.
  • Bank Nifty Open Interest is at 18,64,400, down by 1,30,800, with decrease in price, most probably long liquidation.
  • FII’s bought 1.97 lacs of Futures, most probably long build-up, as their net OI increased by 12307 contracts and the average price per contract comes to around 6190.
  • FII’s future open contract as on date is 564944.
  • PCR Open Interest (Volume) is has gone down due to huge liquidation seen at 6000-5800PE levels and now at 1.372.
  • Initial Support at 6100, but OI is just 56.2 lacs and below that at 6000 with highest OI of 77.22 lacs.
  • Initial and best resistance at 6200, with highest OI on CE side at 71.36 lacs and above that at 6300 with OI of 60.28 lacs.
  • Range as per Option Table is 6116 - 6228 and as per VIX is 6100 - 6214 with 6150 as the Pivot.
Option Call for 21-05-2013
Buy Nifty 6200CE above 62 for targets of 77, 92 SL - 58
Buy Nifty 6200PE above 84 for targets of 98, 112 SL - 74

India VIX : 17.71 up by 0.14
Call OI : 38755150
Put OI : 53168050
PCR OI : 1.372
SMR : 12.91 (Bullish: Nifty traded above 6200 for more than 3 hrs but was unable to close above it for the day, as the Bears came back to move the index below 6150. Status Quo is being maintained with the one who wins tomorrow can take the honours till expiry...)