Monday, June 3, 2013

Option Open Interest for 03-06-2013

Inference
Nifty after the huge unwinding seen on Friday, opened flat to positive but was sold off towards the lows of the day around 5915. A small pullback towards the end of day saw the index close at 5939.30, still a huge loss of 46.65 points. The broader market was also weak, with just 526 advances to 765 declines. Option Table support still very much intact at 5900 level.
  • Call option 5900-6200 added 33.62 lacs huge amount of OI with small short covering seen at 5800 strike price.
  • Put option 5900-5500 added 17.15 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6200 at 51.96 lacs & 6100 at 44.87 lacs whereas Put option 5900 at 53.17 lacs & 5800 at 50.24 lacs.
  • Nifty Open Interest is at 1,38,00,000 down by 13,62,400, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 11,96,750, down by 18,625, with decrease in price, most probably long liquidation.
  • FII’s sold huge 18.04 lacs of Futures (Approx 50 lacs futures sold in the 2 days), most probably huge long liquidation, as their net OI decreased by 26089 contracts and the average price per contract comes to around 5985.
  • FII’s future open contract as on date is 267421.
  • PCR Open Interest (Volume) has dipped around the danger level and now at 1.041.
  • Support very much at 5900, with huge OI of 53.17 lacs and below that at 5800 with OI of 50.24 lacs.
  • Initial resistance now at 6000, with huge addition for the day at 7.81 lacs and above that at 6100 with OI of 44.87 lacs.
  • Range as per Option Table is 5892 - 6013 and as per VIX is 5886 - 5993 with 5970 as the Pivot.
Option Call for 04-06-2013
Buy Nifty 6000CE above 86 for targets of 100, 125 SL - 79
Buy Nifty 5900PE above 78 for targets of 94, 111 SL - 74

India VIX : 17.29 up by 0.30
Call OI : 31194150
Put OI : 32463250
PCR OI : 1.041
SMR : 16.61 (Bearish: Bears dominated the day’s proceedings, but seems like they went easy during the dying minutes of trade, but have captured 6000 level for good, Bulls need to come back fast as time is running out for them...)