Thursday, June 6, 2013

Option Open Interest for 06-06-2013

Inference
Nifty opened weak below the level of 5900 on the back of bad global cues and instantly dipped below towards 5870, which incidentally was just below 50 SMA. The buyer were just waiting for this opportunity and saw the market above 5900 and also above the previous day’s close, but profit booking at the end saw the index closing at 5921.40, a small loss of 2.45 points. The broader market though was weak, with 602 advances to 675 declines. Option Table support at 5900 is being tested for the last few days and it’s still holding on.
  • Call option 5800-6200 added 17.62 lacs huge amount of OI with small profit booking seen at 6300 and above strike price.
  • Put option 5900-5500 added 22.07 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6200 at 61.52 lacs & 6100 at 56.71 lacs whereas Put option 5900 at 67.26 lacs & 5800 at 58.62 lacs.
  • Nifty Open Interest is at 1,24,50,250 down by 7,02,950, with small decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 11,21,200, down by 18,375, with increase in price, most probably short covering.
  • FII’s sold huge 19.16 lacs of Futures (Approx 86 lacs futures sold in the last 5 days), most probably huge long liquidation, as their net OI decreased by 26321 contracts and the average price per contract comes to around 5974.
  • FII’s future open contract as on date is 230624.
  • PCR Open Interest (Volume) is at 1.056.
  • Good support now at 5900, with OI above 67.26 lacs and below that at 5800 with OI of 58.62 lacs.
  • Initial resistance still at 6000, with OI of 46.75 lacs and above that at 6100 with OI of 56.71 lacs.
  • Range as per Option Table is 5858 - 5977 and as per VIX is 5868 - 5975 with 5935 as the Pivot.
Option Call for 07-06-2013
Buy Nifty 6000CE above 65 for targets of 79, 93 SL - 60
Buy Nifty 5900PE above 83 for targets of 100, 122 SL - 80

India VIX : 17.35 up by 0.57 points
Call OI : 36124700
Put OI : 38148150
PCR OI : 1.056
SMR : 16.43 (BEARISH: Bears got a super chance to break 5900 with a gap-down below it, but they messed it up with the Bulls for the third day in a row holding onto the level of 5900 with ease....)