Wednesday, July 3, 2013

Option Open Interest for 03-07-2013

Inference
Nifty opened huge gap-down just around 5800 and drifted down with each passing hour to make low around 5760. The index closed nearer to the lows of the day at 5770.90, a huge loss of 86.65 points. The broader market was very bad, with just 305 advances to 982 declines. Option Table saw huge addition at 5800-6000 range and now 6000 looks like turning out to be resistance for the series.
  • Call option 5700-6000 added 21.50 lacs huge amount of OI with small profit booking seen at 6100 and above strike prices.
  • Put option 5700-5300 added 12.42 lacs huge amount of OI with short covering seen at 5800 and above strike prices.
  • Highest accumulation on Call option 6000 at 66.14 lacs & 5900 at 50.57 lacs whereas Put option 5600 at 66.96 lacs & 5700 at 50.57 lacs.
  • Nifty Open Interest is at 1,47,52,800 down by 3,38,200, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 13,03,225, up by 97,000, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 12.23 lacs Futures, mostly long liquidation with some short build-up, as their net OI increased by 5757 contracts and the average price per contract comes to around 5758.20.
  • FII’s future open contract as on date is 361056.
  • PCR Open Interest (Volume) is dropping fast and now at 1.212.
  • Initial support shifting down to 5700, with OI of 50.57 lacs and below that at 5600 with highest OI of 66.96 lacs.
  • Initial resistance now at 5800, with huge addition for the day at 6.41 lacs and above that at 5900 with huge OI of 50.57 lacs.
  • Range as per Option Table is 5711 - 5848 and as per VIX is 5714 - 5828 with 5782 as the Pivot.
Option Call for 04-07-2013
Buy Nifty 5800CE above 89 for targets of 99, 115 SL - 84
Buy Nifty 5700PE above 75 for targets of 84, 94 SL - 70

India VIX : 18.91, up 0.70 by points
Call OI : 31124900
Put OI : 37729150
PCR OI : 1.212
SMR : 15.60 (Neutral to Bearish: Bears have made a comeback with a close below the psychological level of 5800 and 200SMA, a follow-up action tomorrow and Bulls will rue the golden opportunity they missed for the series...)