Tuesday, June 4, 2013

Option Open Interest for 04-06-2013

Inference
Nifty opened flat and after a dash towards 5980, strayed in smallish range for the better part of the day but saw huge selling in the second half to close at 5919.45, another negative day with loss of 19.85 points. The broader market was just weak, with 623 advances to 657 declines. Option Table support still intact at 5900 level but huge resistance building up around 6000-6100 level.
  • Call option 5900-6200 added 15.55 lacs huge amount of OI with small profit booking seen at 6300 and above strike price.
  • Put option 5900-5500 added 21.14 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6200 at 53.64 lacs & 6100 at 53.63 lacs whereas Put option 5900 at 58.52 lacs & 5800 at 53.88 lacs.
  • Nifty Open Interest is at 1,34,08,450 down by 3,91,550, with decrease in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 11,77,725, down by 19,025, with decrease in price, most probably long liquidation.
  • FII’s sold huge 7.09 lacs of Futures (Approx 57 lacs futures sold in the last 3 days), most probably huge long liquidation, as their net OI decreased by 8188 contracts and the average price per contract comes to around 5958.
  • FII’s future open contract as on date is 259233.
  • PCR Open Interest (Volume) is still hovering around the previous day level at 1.044.
  • Support still much at 5900, with huge OI of 58.52 lacs and below that at 5800 with OI of 53.88 lacs.
  • Initial resistance getting better at 6000, with OI of 43.38 lacs and above that at 6100 with OI of 53.63 lacs.
  • Range as per Option Table is 5873 - 5993 and as per VIX is 5866 - 5973 with 5950 as the Pivot.
Option Call for 05-06-2013
Buy Nifty 6000CE above 75 for targets of 87, 105 SL - 71
Buy Nifty 5900PE above 85 for targets of 95, 106 SL - 79

India VIX : 17.26 down by 0.03 points
Call OI : 32843300
Put OI : 34290300
PCR OI : 1.044
SMR : 16.53 (BEARISH: A day when it seemed like the Bulls are coming back, but it was not to be as huge selling during the second half saw the index close in red, Bears still dominating with Bulls are still holding 5900 but seems like time is running out for them...)