Wednesday, May 22, 2013

Option Open Interest for 22-05-2013

Inference
Nifty opened positive, but was unable to sustain the gap and came down in the afternoon session to touch the lows around 6074 and closed below the psychological level of 6100 at 6094.50, a small loss of 19.60 points. The broader market was also weak, with just 394 advances to 901 declines. Range as per Option Table comes to around 6000-6220 for the rest of week and maybe till expiry.
  • Call option 6000-6200 added 12.04 lacs huge amount of OI with huge profit booking seen at 6400 and above strike prices.
  • Put option 6100, 5900 added 8.63 lacs huge amount of OI with short covering seen at 6200 and above strike prices.
  • Highest accumulation on Call option 6200 at 78.16 lacs & 6300 at 62.83 lacs whereas Put option 5900 at 82.91 lacs & 6000 at 70.98 lacs.
  • Nifty Open Interest is at 2,65,84,500 up by 6,28,500, with decrease in price, most probably some short build-up.
  • Bank Nifty Open Interest is at 17,79,625, up by 13,075, with decrease in price, most probably small short build-up.
  • FII’s bought 9.28 lacs of Futures, most probably long build-up, as their net OI increased by 28951 contracts and the average price per contract comes to around 6125.
  • FII’s future open contract as on date is 621776.
  • PCR Open Interest (Volume) is again down and now at 1.334.
  • Support still at 6000, though covered huge, but OI still above 70.98 lacs and below that at 5900 with highest OI of 82.91 lacs.
  • Initial and best resistance at 6200, with highest OI on CE side at 78.16 lacs and above that at 6300 with OI of 62.83 lacs.
  • Range as per Option Table is 6046 - 6158 and as per VIX is 6038 - 6151 with 6120 as the Pivot.
Option Call for 23-05-2013
Buy Nifty 6100CE above 68 for targets of 84, 104 SL - 63
Buy Nifty 6100PE above 58 for targets of 71, 84 SL - 54

India VIX : 17.72 down by 0.16
Call OI : 38049150
Put OI : 50758200
PCR OI : 1.334
SMR : 13.28 (Neutral with Bearish Undertone: Bulls and Bears locked horns at 6100 level, but none of the parties could stamp their superiority, the Bears though are slightly ahead with OI just above 60 lacs...)