Thursday, July 4, 2013

Option Open Interest for 04-07-2013

Inference
Nifty opened up above the psychological level of 5800, and after an initial dip made it way to the high of the day around 5845. It got sold off again, but gathered steam to close around the highs of the day at 5836.95, a huge gain of 66.05 points and in the process closed above 200DMA. The broader market also performed well, with 700 advances to 578 declines. Option Table saw huge addition at 5800-5400PE range and for the first time in the series 5600 OI is more than 70 lacs.
  • Call option 5800-5900, 6100-6300 added 17.20 lacs huge amount of OI with profit booking seen at 6000 strike price.
  • Put option 5800-5400 added 39.49 lacs huge amount of OI with small short covering seen at 6100 and above strike prices.
  • Highest accumulation on Call option 6000 at 60.42 lacs & 5900 at 56.49 lacs whereas Put option 5600 at 73.86 lacs & 5700 at 60.23 lacs.
  • Nifty Open Interest is at 1,49,65,450 up by 2,12,650, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 12,86,400, down by 16,825, with increase in price, most probably short covering.
  • FII’s bought 0.33 lacs Futures, mostly short covering, as their net OI decreased by 2648 contracts and the average price per contract comes to around 5824.77.
  • FII’s future open contract as on date is 358408.
  • PCR Open Interest (Volume) jumped up to 1.298 due to huge addition at 5800PE level.
  • Initial support now back to 5800, with huge addition for the day at 12.13 lacs and below that at 5700 with huge OI of 60.23 lacs.
  • Resistance at 5900, with OI of 56.49 lacs and above that at 6000 with huge OI of 60.42 lacs.
  • Range as per Option Table is 5761 - 5895 and as per VIX is 5780 - 5894 with 5824 as the Pivot.
Option Call for 05-07-2013
Buy Nifty 5900CE above 69 for targets of 80, 91 SL - 64
Buy Nifty 5800PE above 91 for targets of 102, 120 SL - 87

India VIX : 18.58 down by 0.33 points
Call OI : 32182400
Put OI : 41778850
PCR OI : 1.298
SMR : 14.31 (Neutral to Bullish: Bears did not get the follow-up action and let the Bulls into the game, the Bulls made a sustained addition throughout 5800-5400PE level with 5600 now is the major support for the Series...)