Thursday, June 20, 2013

Option Open Interest for 20-06-2013

Inference
Nifty opened very weak on the back of global cues, and immediately went below the psychological level of 5700. Nifty tried to move up but drifted down with passing hour to close at the lowest of the day at 5655.90, a huge loss of 166.35 points, one of the biggest sell-off seen in recent times. The broader market was also very negative, with just 211 advances to 1090 declines. Option Table has been taken over by the Bears with Bulls running for cover.
  • Call option 5500-5900 added 91.65 lacs huge amount of OI with profit booking seen at 5900 and above strike prices.
  • Put option 5600-5200 added 29.43 lacs huge amount of OI with short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 5800 at 84.87 lacs & 5900 at 65.46 lacs whereas Put option 5600 at 74.67 lacs & 5700 at 66.74 lacs.
  • Nifty Open Interest is at 2,15,34,000 up by 29,99,850, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 15,35,400, up by 2,05,425, with decrease in price, most probably huge short build-up.
  • FII’s sold 18.74 lacs Futures, most probably short build-up, as their net OI increased by 58195 contracts and the average price per contract comes to around 5654.
  • FII’s future open contract as on date is 494210.
  • PCR Open Interest (Volume) is at the lowest of the series at 0.796.
  • Initial and best support at 5600, with OI above 74.67 lacs and below that at 5500 with OI of 60.06 lacs.
  • Super resistance right now at 5700, with huge addition for the day at 41.34 lacs and above that at 5800 with highest OI of 84.87 lacs.
  • Range as per Option Table is 5617 - 5740 and as per VIX is 5599 - 5713 with 5690 as the Pivot.
Option Call for 21-06-2013
Buy Nifty 5700CE above 57 for targets of 79, 100 SL - 52
Buy Nifty 5700PE above 89 for targets of 104, 121 SL - 74

India VIX : 19.19 up by 0.73 points
Call OI : 52349400
Put OI : 41653850
PCR OI : 0.796
SMR : 24.12 (Bearish: The FED statement of tapering QE did not go well, and the Bears just came back to maul the Bulls with a 3% down day. Will sanity prevail tomorrow or more downside to come. SMR above 24, new shorts need to be cautions...)