Monday, June 24, 2013

Option Open Interest for 24-06-2013

Inference
Nifty opened very weak on the back of bad global cues, and stayed weak throughout the entire session of trade to close below the psychological level of 5600 and shed 77.40 points. A small pullback towards the end saw the index close at 5590.25, after making a low of 5566. The broader market was very weak, with just 212 advances to 1093 declines. Option Table saw huge addition at 5600-5700CE level and now 5700 level seems like “Wall of China” for the Bulls.
  • Call option 5500-5700 added 45.26 lacs huge amount of OI with profit booking seen at 5800 and above strike prices.
  • Put option 5500-5200 added 43.45 lacs huge amount of OI with short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 5700 at 94.39 lacs & 5800 at 77.86 lacs whereas Put option 5600 at 69.96 lacs & 5500 at 69.84 lacs.
  • Nifty Open Interest is at 2,07,46,450 down by 5,09,850, whereas July series added 21.85 lacs with decrease in price, most probably 100% rollover with huge short added to new series.
  • Bank Nifty Open Interest is at 15,83,800, up by 77,600, whereas July series also added 0.92 lacs with decrease in price, most probably huge short build-up in both series.
  • FII’s sold just 0.56 lacs Futures, most probably short build-up, as their net OI increased by 48371 contracts and the average price per contract comes to around 5592.
  • FII’s future open contract as on date is 537123.
  • PCR Open Interest (Volume) at the lowest point of the series at 0.778.
  • Support at 5500, with OI above 69.84 lacs and below that at 5400 with OI of just 58.78 lacs.
  • Super resistance right now at 5700, with highest OI of 94.39 lacs and above that at 5800 with huge OI of 77.86 lacs.
  • Range as per Option Table is 5530 - 5662 and as per VIX is 5529 - 5652 with 5610 as the Pivot.
Option Call for 25-06-2013
Buy Nifty 5600CE above 44 for targets of 57, 77 SL - 39
Buy Nifty 5600PE above 57 for targets of 77, 99 SL - 50

India VIX : 21.01 up by 1.98 points
Call OI : 54499950
Put OI : 42385700
PCR OI : 0.778
SMR : 27.01 (Bearish: After the breather given to the Bulls on Friday, the Bears came back with double force to close the index below the psychological level of 5600 and in the process made 5700 level out of bounds for the Bulls, shorts still reign supreme ...)