Sunday, June 2, 2013

Option Open Interest for 31-05-2013

Inference
Nifty June Series started with a huge fall of 138.10 points, and closed below the psychological level of 6000 at 5985.95. The index opened weak and went down with each hour to close at the lowest point of the day. On a week on week basis the index gained just 2.40 points and closed near the lows of the week. The broader market was pathetic, with just 317 advances to 990 declines. Option Table is still not developed enough but good support developing around 5900 level.
  • Call option 5800-6500 added 38.08 lacs huge amount of OI with small short covering seen at 5700 and lower strike prices.
  • Put option 5900-5500 added 22.41 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6200 at 40.11 lacs & 6300 at 38.92 lacs whereas Put option 6000 at 50.29 lacs & 5900 at 49.68 lacs.
  • Nifty Open Interest is at 1,51,62,400 down by 24,28,900, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 12,15,375, up by 59,475, with huge decrease in price, most probably short build-up.
  • FII’s sold huge 30.20 lacs of Futures (the highest selling seen in many days), most probably huge long liquidation, as their net OI decreased by 388275 contracts and the average price per contract comes to around 6021.
  • FII’s future open contract as on date is 293510.
  • PCR Open Interest (Volume) has moved down to 1.142 due to huge addition at 6100CE.
  • Best Support right now at 5900, with huge OI of 49.68 lacs and below that at 5800 with OI of 43.71 lacs.
  • Resistance right now at 6100, with huge addition for the day at 10.16 lacs and above that at 6200 with OI of 40.11 lacs.
  • Range as per Option Table is 5953 - 6076 and as per VIX is 5933 - 6039 with 6020 as the Pivot.
Option Call for 03-06-2013
Buy Nifty 6000CE above 127 for targets of 145, 165 SL - 119
Buy Nifty 6000PE above 105 for targets of 124, 144 SL - 89

India VIX : 16.99 up by 0.95 points
Call OI : 27931200
Put OI : 31902150
PCR OI : 1.142
SMR : 14.88 (BEARISH: In a single day, the Bears made it clear that they want to be the on the forefront in the new series, capturing the pivotal level of 6000, now Bulls need to come back or else we may have a one way journey from here onwards...)