Tuesday, May 28, 2013

Option Open Interest for 28-05-2013

Inference
Nifty opened flat and after a small up-move above 6100, saw a dip towards 6060, which was promptly bought in by the responsive buyer to push the index towards the highs of the day around 6128, but closed marginally lower at 6111.25, a small gain of 28.10 points and in the process captured the psychological level of 6100. The broader market was just positive, with 667 advances to 629 declines. Option Table for expiry week looks slightly tilted towards the Bulls.
  • Call option 6200-6300 added 8.49 lacs huge amount of OI with short covering seen at 6100 and lower strike prices.
  • Put option 6100 added 10.29 lacs huge amount of OI with huge profit booking seen at 6000 and below strike prices.
  • Highest accumulation on Call option 6100 at 66.36 lacs & 6200 at 63.70 lacs whereas Put option 5900 at 73.44 lacs & 6000 at 71.41 lacs.
  • Nifty Open Interest is at 1,83,72,900 down by 37,02,700, whereas June series added 47.60 lacs with increase in price, most probably 100% rollover with huge long addition.
  • Bank Nifty Open Interest is at 13,14,700, down by 1,26,500, whereas June series added 1.29 lacs with no change in price, most probably 100% rollover with small long build-up.
  • PCR Open Interest (Volume) has again back above 1.4 and now at 1.414.
  • Best Support still very much at 6000, though covered some, but OI is still 71.41 lacs and below that at 5900 with OI of 73.44 lacs.
  • Resistance right now at 6200, with OI of 63.70 lacs.
  • Range as per Option Table is 6043 - 6159 and as per VIX is 6056 - 6166 with 6080 as the Pivot.
Option Call for 29-05-2013
Buy Nifty 6100CE above 41 for targets of 55, 72 SL - 36
Buy Nifty 6100PE above 41 for targets of 57, 80 SL - 37

India VIX : 17.12 up by 0.09
Call OI : 32903150
Put OI : 46537000
PCR OI : 1.414
SMR : 12.10 (Bullish with Caution: A Bullish consolidation day after the huge up-move of yesterday, with the index closing back above 6100 but the option writers in disarray with no level having clear advantage for Expiry...)