Thursday, May 23, 2013

Option Open Interest for 23-05-2013

Inference
Nifty opened weak around 6050 level and was sold-off from the word go, with no buying seen at all. The index ultimately closed at 5967.05, a huge loss of 127.45 points. Nifty closed below the psychological level of 6000 and saw the biggest loss in recent days. The broader market was also weak, with just 196 advances to 1108 declines. Range as per Option Table comes to around 5900-6145 for the rest of week and maybe till expiry.
  • Call option 5900-6100 added 49.00 lacs huge amount of OI with huge profit booking seen at 6200 and above strike prices.
  • Put option 5800-5700 added 19.24 lacs huge amount of OI with huge short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6100 at 69.55 lacs & 6200 at 61.45 lacs whereas Put option 5900 at 72.65 lacs & 5700 at 70.61 lacs.
  • Nifty Open Interest is at 2,49,34,350 down by 16,50,150, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 15,09,725, down by 2,69,900, with decrease in price, most probably huge long liquidation.
  • FII’s sold 8.04 lacs of Futures, most probably long liquidation, as their net OI decreased by 28723 contracts and the average price per contract comes to around 5985.
  • FII’s future open contract as on date is 593053.
  • PCR Open Interest (Volume) is down to 1.157 due to huge short covering at 6000 and above PE levels.
  • Support moved down to 5900, though covered huge, but still has highest OI of 72.65 lacs and below that at 5800 with OI of 67.65 lacs.
  • Initial resistance now at 6000, with huge addition of 30.16 lacs for the day and above that at 6100 with highest OI of 69.55 lacs.
  • Range as per Option Table is 5933 - 6050 and as per VIX is 5909 - 6026 with 6000 as the Pivot.
Option Call for 24-05-2013
Buy Nifty 6000CE above 63 for targets of 84, 114 SL - 59
Buy Nifty 6000PE above 81 for targets of 95, 114 SL - 66

India VIX :18.73 up by 1.01 points
Call OI : 39188800
Put OI : 45344850
PCR OI : 1.157
SMR : 16.19 (BEARISH: In a single day trade the Option table from Bullish has gone to Bearish with Bulls running for cover, and support has shifted to 5900 for the once rock solid 6000 level, Bulls need to come back tomorrow or else we may see expiry below 5900...)