Thursday, June 13, 2013

Option Open Interest for 13-06-2013

Inference
Nifty opened weak around 5700, and stayed weak with all small up-move sold with ease. Nifty stayed in a narrow range of 47 points and close just below 5700 at 5699.10, a huge loss of 61.10 points for the day and for the week index has lost 181.90 points. The broader market was very bad, with just 321 advances to 962 declines. Option Table range contraction in place, with support still at 5700 and resistance building up around 5800.
  • Call option 5600-5900 added 37.97 lacs huge amount of OI with small profit booking seen at 6000 and above strike price.
  • Put option 5600-5300 added 20.11 lacs huge amount of OI with short covering seen at 5800 and above strike prices.
  • Highest accumulation on Call option 6000 at 74.00 lacs & 5900 at 65.08 lacs whereas Put option 5700 at 70.27 lacs & 5500 at 55.82 lacs.
  • Nifty Open Interest is at 1,57,98,750 up by 12,64,600, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 13,43,175, up by 84,550, with decrease in price, most probably huge short build-up.
  • FII’s sold 8.48 lacs Futures (Approx 1.425 crore futures sold in the last 10 days), most probably short build-up, as their net OI increased by 37297 contracts and the average price per contract comes to around 5721.
  • FII’s future open contract as on date is 352617.
  • PCR Open Interest (Volume) is at the lowest of the series at 0.853.
  • Good support still at 5700 though price hovering around that level, with OI above 70.27 lacs and below that at 5600 with OI of 52.04 lacs.
  • Resistance right now at 5800, with OI of 55.44 lacs and above that at 5900 with huge OI of 65.08 lacs.
  • Range as per Option Table is 5644 - 5766 and as per VIX is 5641 - 5757 with 5720 as the Pivot.
Option Call for 14-06-2013
Buy Nifty 5800CE above 90 for targets of 100, 113 SL - 85
Buy Nifty 5700PE above 81 for targets of 90, 100 SL - 76

India VIX : 19.44, up by 0.59 points
Call OI : 49677150
Put OI : 42353000
PCR OI : 0.853
SMR : 22.80 (BEARISH: Nifty closed just below 5700 with OI table upper levels totally in control of the Bears, though 5700 level PE writers have still not chickened out, seems like fight will be there tomorrow. Keep track on SMR which is now at 22.80...)