Monday, July 1, 2013

Option Open Interest for 01-07-2013

Inference
Nifty opened flat around the previous day’s close but gained momentum with each passing hour to close near the top of the day at 5898.85, a huge gain of 56.65 points, just shy of the psychological level of 5900. The broader market was very good, with 1009 advances to 279 declines. Option Table saw huge support building up around 5800 level with highest addition for the day at 14 lacs.
  • Call option 5800-6300 added 33.02 lacs huge amount of OI with short covering seen at 5700 and lower prices.
  • Put option 6100-5400 added 36.84 lacs huge amount of OI with some profit booking seen at 5300 level.
  • Highest accumulation on Call option 6000 at 51.22 lacs & 5900 at 41.99 lacs whereas Put option 5600 at 66.69 lacs & 5700 at 48.85 lacs.
  • Nifty Open Interest is at 1,52,52,950 up by 9,20,500, with increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 11,56,825, down by 8,575, with increase in price, most probably small short covering.
  • FII’s bought huge 1.53 lacs Futures, most probably long build-up, as their net OI increased by 34391 contracts and the average price per contract comes to around 5890.65.
  • FII’s future open contract as on date is 350614.
  • PCR Open Interest (Volume) just dropped a bit to 1.300.
  • Initial very good support at 5800, with OI of 47.83 lacs and below that at 5700 with huge OI of 48.85 lacs.
  • Initial resistance though looking weak but still at 5900, with OI of 41.99 lacs and above that at 6000 with huge OI of 51.22 lacs.
  • Range as per Option Table is 5809 - 5952 and as per VIX is 5843 - 5955 with 5880 as the Pivot.
Option Call for 02-07-2013
Buy Nifty 5900CE above 97 for targets of 108, 120 SL - 87
Buy Nifty 5900PE above 118 for targets of 131, 148 SL - 111

India VIX : 18.09, up 0.14 by points
Call OI : 28190900
Put OI : 36651250
PCR OI : 1.300
SMR : 13.91 (Bullish: The Bulls have taken the lead in the series and are firmly placed to scale more highs in the following days, Bears need to come back or else they have to sit it out....)