Wednesday, June 26, 2013

Option Open Interest for 26-06-2013

Inference
Nifty opened flat to positive, and stayed in a narrow range of 30 points for the better part of the day, but saw huge selling in the last hour to close around the lows of the day at 5588.70, a loss of 20.40 points. The index has closed at the low point of the series below the psychological level of 5600 just before expiry. The broader market was also weak, with just 449 advances to 839 declines. Option Table looks fully in control of the bears.
  • Call option 5500-5700 added 37.83 lacs huge amount of OI with profit booking seen at 5800 and above strike prices.
  • Put option 5500 added 5.78 lacs huge amount of OI with short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 5700 at 1.13 crore & 5600 at 70.02 lacs whereas Put option 5500 at 77.38 lacs & 5600 at 63.47 lacs.
  • Nifty Open Interest is at 1,65,25,300 down by 26,10,000, whereas July series added 21.28 lacs with small decrease in price, most probably rollover with huge long liquidation.
  • Bank Nifty Open Interest is at 12,02,950, down by 2,96,050, whereas July series added 3.63 lacs with decrease in price, most probably 100% rollover with huge short build-up in July series.
  • FII’s bought 1.01 lacs Futures, most probably short covering, as their net OI decreased by 10674 contracts and the average price per contract comes to around 5581.
  • FII’s future open contract as on date is 576422.
  • PCR Open Interest (Volume) is at the lowest of the series at 0.702.
  • Initial and only support at 5500, with OI above 77.38 lacs.
  • Initial resistance at 5600, with huge addition for the day at 13.06 lacs and above that at 5700 with highest OI of 1.13 crore.
  • Range as per Option Table is 5533 - 5662 and as per VIX is 5527 - 5650 with 5600 as the Pivot.
A sneak peek at July months OI Table
Option Call for 27-06-2013
Buy Nifty 5600CE above 25 for targets of 37, 55 SL - 20
Buy Nifty 5600PE above 39 for targets of 49, 60 SL - 34

India VIX : 21.07 down by 0.07 points
Call OI : 54368350
Put OI : 38141850
PCR OI : 0.702
SMR : 30.03 (Bearish: Bears are going into expiry having the advantage of lowest close in this series, will the Bulls wilt under pressure and let the Bears have their way or come back with new vigour as they have nothing much to lose...)