Tuesday, May 21, 2013

Option Open Interest for 21-05-2013

Inference
Nifty opened flat but was unable to sustain above the previous day’s close to touch the lows of 6120. A surge saw the index touch the highs of the day around 6180, but was sold off swiftly towards a new low but closed just up at 6114.10, still a huge loss of 42.80 points. The broader market was also weak, with just 435 advances to 852 declines. Range for the rest of week could be 6000-6220 as per Option Table.
  • Call option 6100-6400 added 6.85 lacs huge amount of OI with huge profit booking seen at 6400 and above strike prices.
  • Put option 5900 added 5.92 lacs huge amount of OI with short covering seen at 6200 and above strike prices.
  • Highest accumulation on Call option 6200 at 73.61 lacs & 6300 at 62.91 lacs whereas Put option 5900 at 78.40 lacs & 6000 at 76.89 lacs.
  • Nifty Open Interest is at 2,59,55,900 up by 1,94,000, with decrease in price, most probably some short build-up.
  • Bank Nifty Open Interest is at 17,66,550, down by 97,850, with decrease in price, most probably long liquidation.
  • FII’s bought 6.25 lacs of Futures, most probably long build-up, as their net OI increased by 27881 contracts and the average price per contract comes to around 6139.
  • FII’s future open contract as on date is 592825.
  • PCR Open Interest (Volume) is has gone down again but still comfortably placed at 1.346.
  • Good support at 6000, with OI above 76.89 lacs and below that at 5900 with highest OI of 78.40 lacs.
  • Initial and best resistance at 6200, with highest OI on CE side at 73.61 lacs and above that at 6300 with OI of 62.91 lacs.
  • Range as per Option Table is 6071 - 6183 and as per VIX is 6057 - 6171 with 6150 as the Pivot.
Option Call for 22-05-2013
Buy Nifty 6100CE above 85 for targets of 95, 114 SL - 79
Buy Nifty 6100PE above 108 for targets of 121, 137 SL - 95

India VIX :17.88 up by 0.17 points
Call OI : 38027350
Put OI : 51169450
PCR OI : 1.346
SMR : 12.21 (Neutral: Bears are BACK, with 6200 level now slipping out of hands of the Bulls and battle now is for the supremacy at 6100, which is right now evenly matched...)