Thursday, May 30, 2013

Option Open Interest for 30-05-2013

Inference
Expiry day saw Nifty open weak and stayed within a small range for the better part of the day; with short covering rally in the dying minutes saw the index closed just above the previous day’s close at 6124.05, a small gain of 19.75 points and in the process had a highest expiry till date. The broader market though was negative, with 516 advances to 767 declines. Option Table at start of series has good support building up around 6000 level.
  • Call option 5600-6600 added 46.93 lacs huge amount of OI.
  • Put option 6500-5600 added 43.76 lacs huge amount of OI.
  • Highest accumulation on Call option 6300 at 32.72 lacs & 6200 at 31.62 lacs whereas Put option 6000 at 55.44 lacs & 5900 at 41.30 lacs.
  • Nifty Open Interest is at 1,75,91,300 up by 44,86,100, whereas May series covered 19.24 lacs with small increase in price, most probably 100% rollover with huge long addition.
  • Bank Nifty Open Interest is at 11,55,900, up by 4,46,650, whereas May series covered 3.53 lacs with small decrease in price, most probably 100% rollover with small short build-up.
  • FII’s bought huge 18.92 lacs of Futures, most probably long build-up, as their net OI increased by 47524 contracts and the average price per contract comes to around 6142.
  • FII’s future open contract as on date is 681785.
  • PCR Open Interest (Volume) is comfortably placed at 1.236 at start of series.
  • Best Support at 6000, with highest OI of 50.44 lacs and below that at 5900 with huge OI of 41.30 lacs.
  • Initial resistance right now at 6200, but OI is just 31.62 lacs and above that at 6300 with OI of 32.72 lacs.
  • Range as per Option Table is 6055 - 6172 and as per VIX is 6073 - 6175 with 6100 as the Pivot.
Option Call for 31-05-2013
Buy Nifty 6100CE above 115 for targets of 124, 135 SL - 109
Buy Nifty 6100PE above 98 for targets of 109, 126 SL - 94

India VIX : 16.04 down by 1.82
Call OI : 24147550
Put OI : 29849350
PCR OI : 1.236
SMR : 12.10 (Bullish: One of the least volatile day in the series, saw Expiry closing at the high point of the day, with Bullish momentum returning back in Nifty...)