Thursday, June 27, 2013

Option Open Interest for 27-06-2013

Inference
Nifty opened positive on the back of good global cues, and huge short covering rally saw the index end the June expiry just below 5700 level at 5682.35, still a huge gain of 93.65 points. The broader market was also positive, with 696 advances to 591 declines. Option Table at start of series looks balanced around 5700 level with a range developing around 5500-5900.
  • Call option 5200-6200 added 50.78 lacs huge amount of OI.
  • Put option 5700-5200 added 42.87 lacs huge amount of OI with small addition seen at higher levels.
  • Highest accumulation on Call option 5800 at 36.80 lacs & 5900 at 32.78 lacs whereas Put option 5600 at 59.47 lacs & 5500 at 42.44 lacs.
  • Nifty Open Interest is at 1,19,16,450 up by 20,89,650, with increase in price whereas June series saw huge short covering.
  • Bank Nifty Open Interest is at 11,72,775, up by 4,00,300, with increase in price whereas June series saw huge short covering.
  • FII’s bought 0.72 lacs Futures, most probably short covering, as their net OI decreased by 321225 contracts and the average price per contract comes to around 5680.50.
  • FII’s future open contract as on date is 255197.
  • PCR Open Interest (Volume) at start of series is in a healthy position at 1.250.
  • Initial and best support developing at 5600, with highest OI of 59.47 lacs and below that at 5500 with OI of 42.44 lacs.
  • Initial and best resistance at 5800, with huge OI of 36.80 lacs and above that at 5900 with OI of 32.78 lacs.
  • Range as per Option Table is 5609 - 5741 and as per VIX is 5626 - 5738 with 5680 as the Pivot.
Option Call for 28-06-2013
Buy Nifty 5700CE above 102 for targets of 124, 150 SL - 89
Buy Nifty 5700PE above 125 for targets of 142, 167 SL - 118

India VIX : 18.85, down by 2.22 points
Call OI : 23814300
Put OI : 29763750
PCR OI : 1.250
SMR : 15.08 (Neutral: Bulls rode on the back of good global cues and huge short covering saw them back into the game with new series nicely poised around 5700 level. Friday could be the decider for the July series...)