Saturday, June 15, 2013

Option Open Interest for 14-06-2013

Inference
Nifty after 6 days had a change of fortune, with a positive open on the back of good global cues and then moving up with each trading hour to close near the highs of the day at 5808.40, a huge jump of 109.30 points. On the weekly time frame the index recovered most of the loss of the last 4 days but still closed down by 72.60 points or about 1.23%. The broader market also performed well, with 894 advances to 392 declines. Option Table right now is well balanced around 5800 level with small edge to the PE writers.
  • Call option 6000 added just 1.67 lacs of OI with huge short covering seen at 5800 and below strike price.
  • Put option 5800-5500 added 23.11 lacs huge amount of OI with short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 75.67 lacs & 5900 at 57.67 lacs whereas Put option 5700 at 75.63 lacs & 5800 at 63.13 lacs.
  • Nifty Open Interest is at 1,56,41,450 down by 1,57,300, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 12,95,000, down by 48,175, with increase in price, most probably huge short covering.
  • FII’s bought, yes bought 9.40 lacs Futures, most probably long build-up, as their net OI increased by 1907 contracts and the average price per contract comes to around 5822.
  • FII’s future open contract as on date is 354524.
  • PCR Open Interest (Volume) nudged up a bit to 0.928.
  • Best support at 5700, with OI above 75.63 lacs and below that at 5600 with OI of 56.26 lacs.
  • Resistance right now at 5900, with OI of 57.82 lacs and above that at 6000 with highest OI of 75.67 lacs.
  • Range as per Option Table is 5734 - 5856 and as per VIX is 5753 - 5864 with 5800 as the Pivot.
Option Call for 17-06-2013
Buy Nifty 5800CE above 77 for targets of 90, 105 SL - 71
Buy Nifty 5800PE above 85 for targets of 99, 120 SL - 80

India VIX : 18.35 down by 1.09 points
Call OI : 46866750
Put OI : 43474350
PCR OI : 0.928
SMR : 19.78 (NEUTRAL: Bulls came back with vengeance and closed firm above 5800 level, now they need a follow up action on Monday or else the Bears will be back. Option Table for the time being seems to have found a base around 5700 level...)