Wednesday, May 29, 2013

Option Open Interest for 29-05-2013

Inference
Nifty opened weak and stayed within a small range for the better part of the day; with up-move in the dying minutes saw the index closed just below the previous day’s close at 6104.30, a small loss of 6.95 points and in the process stayed above the psychological level of 6100. The broader market was negative, with 480 advances to 796 declines. Option Table for doomsday is perfectly poised at the centre of the best support at 6000 and the super resistance at 6200.
  • Call option 6100-6200 added 9.13 lacs huge amount of OI with short covering seen at 6000 and lower strike prices.
  • Put option 6000-5900 added 5.88 lacs huge amount of OI with huge profit booking seen at 5800 and below strike prices.
  • Highest accumulation on Call option 6200 at 71.80 lacs & 6100 at 67.39 lacs whereas Put option 5900 at 77.46 lacs & 6000 at 73.27 lacs.
  • Nifty Open Interest is at 1,59,63,900 down by 24,09,000, whereas June series added 31.93 lacs with not much change in price, most probably 100% rollover with some long addition.
  • Bank Nifty Open Interest is at 9,29,225, down by 3,85,475, whereas June series added 3.14 lacs with small decrease in price, most probably 82% rollover with small long liquidation.
  • FII’s bought 6.65 lacs of Futures, most probably long build-up, as their net OI increased by 40161 contracts and the average price per contract comes to around 6114.
  • FII’s future open contract as on date is 634261.
  • PCR Open Interest (Volume) is comfortably placed at 1.411.
  • Best Support at 6000, with huge OI of 73.27 lacs and below that at 5900 with highest OI of 77.46 lacs.
  • Best Resistance right now at 6200, with OI of 71.80 lacs.
  • Range as per Option Table is 6041 - 6160 and as per VIX is 6047 - 6161 with 6080 as the Pivot.
Option Call for 30-05-2013
Buy Nifty 6100CE above 24 for targets of 35, 50 SL - 19
Buy Nifty 6100PE above 37 for targets of 49, 66 SL - 32

India VIX : 17.86 up by 0.74 points
Call OI : 32589050
Put OI : 45973200
PCR OI : 1.411
SMR : 12.66 (Neutral with Bullish undertone: A perfect day of consolidation with market participant gearing themselves up for expiry with a close around the Pivot point, whosoever takes control of 6100 level in the morning could have the advantage of Expiry...)