Monday, June 17, 2013

Option Open Interest for 17-06-2013

Inference
Nifty opened flat but saw a dip after the Reserve Bank of India (RBI) in its June mid quarter monetary policy left its key policy rate unchanged at 7.25 percent and CRR remained at 4%. The index recouped itself to move above the previous day’s close and stayed strong to close around the highs of the day at 5850.05, a cool gain of 41.65 points. The broader market was positive, with 680 advances to 588 declines. Option Table right now is well balanced between 5800-5900 levels.
  • Call option 5800-6100 added just 9.28 lacs of OI with huge short covering seen at 5700 and below strike price.
  • Put option 5900-5700 added 10.21 lacs huge amount of OI with profit booking seen at 5600 and lower strike prices.
  • Highest accumulation on Call option 6000 at 77.80 lacs & 6100 at 64.55 lacs whereas Put option 5700 at 79.20 lacs & 5800 at 68.04 lacs.
  • Nifty Open Interest is at 1,70,41,700 up by 14,00,250, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,61,675, down by 33,325, with increase in price, most probably huge short covering.
  • FII’s sold 5.50 lacs Futures, most probably short build-up, as their net OI increased by 43739 contracts and the average price per contract comes to around 5862.
  • FII’s future open contract as on date is 398263.
  • PCR Open Interest (Volume) is still below danger level at 0.924.
  • Initial support moved up now at 5800, with OI above 68.04 lacs and below that at 5700 with highest OI of 79.20 lacs.
  • Resistance still at 5900, with OI of 59.49 lacs and above that at 6000 with highest OI of 77.80 lacs.
  • Range as per Option Table is 5772 - 5892 and as per VIX is 5794 - 5906 with 5840 as the Pivot.
Option Call for 18-06-2013
Buy Nifty 5800CE above 93 for targets of 106, 119 SL - 83
Buy Nifty 5800PE above 63 for targets of 77, 100 SL - 58

India VIX : 18.18, down by 0.17 points
Call OI : 46833950
Put OI : 43257950
PCR OI : 0.924
SMR : 19.68 (Neutral with Bullish undertone: The 5800PE writers are on the verge of taking control with OI just above 68 lacs, the CE writers are feeling the heat with huge short covering seen at 5700 level, range bound trade within 5800-5900 could be the order of the day...)