Sunday, May 26, 2013

Option Open Interest for 24-05-2013

Inference
Nifty opened up on the back of good global cues after the huge drubbing received yesterday, but was sold off instantly to the lows of the day at 5936. The responsive buyers took control at the lows to move the index back above the previous day’s close and ultimately shut shop at 5983.55, a small gain of 16.50 points. On a week on week basis the index lost 203.75, or around 3.29%, the biggest weekly loss in many weeks. The broader market was just positive, with 700 advances to 591 declines. Range as per Option Table for expiry week comes to around 5900-6180..
  • Call option 5900-6100 added 19.68 lacs huge amount of OI with huge profit booking seen at 6200 and above strike prices.
  • Put option 6000-5600 added 23.44 lacs huge amount of OI with huge short covering seen at 6100 and above strike prices.
  • Highest accumulation on Call option 6100 at 79.20 lacs & 6000 at 67.78 lacs whereas Put option 5900 at 81.02 lacs & 5700 at 73.21 lacs.
  • Nifty Open Interest is at 2,42,02,750 down by 7,31,600, whereas June series added 3.8 lacs with small increase in price, most probably some rollover with huge short covering.
  • Bank Nifty Open Interest is at 14,57,525, down by 52,200, whereas June series added 0.35 lacs with increase in price, most probably some rollover with huge short covering.
  • FII’s bought 3.71 lacs of Futures, most probably short covering, as their net OI decreased by 17673 contracts and the average price per contract comes to around 6006.
  • FII’s future open contract as on date is 575380.
  • PCR Open Interest (Volume) is stagnant around 1.160.
  • Best Support now at 5900, with highest OI of 81.02 lacs and below that at 5800 with OI of 71.23 lacs.
  • Resistance right now at 6000, with OI of 67.78 lacs and above that at 6100 with huge OI of 79.20 lacs.
  • Range as per Option Table is 5923 - 6038 and as per VIX is 5928 - 6039 with 6000 as the Pivot.
Option Call for 27-05-2013
Buy Nifty 6000CE above 43 for targets of 57, 73 SL - 39
Buy Nifty 6000PE above 67 for targets of 83, 108 SL - 63

India VIX : 17.70 down by 1.03
Call OI : 39689450
Put OI : 46052750
PCR OI : 1.160
SMR : 15.25 (Bearish: A consolidation day after huge down move of the previous day, but the CE writers are firmly placed at 6100 level, only a move above 6010 can see some positivity else retest of the lows is possible, Sell on rise continues...)