Monday, July 8, 2013

Option Open Interest for 08-07-2013

Inference
Nifty opened weak and saw the sellers pushing it down towards the lows of the day around 5775. The responsive buyer took control and moved the index up to close near the highs of the day at 5811.55, still a huge loss of 56.35 points. The broader market was also negative, with just 470 advances to 710 declines. OI table though did not see much of a change, with the Bulls still very much ahead.
  • Call option 5900-6000, 6200 added 11.11 lacs huge amount of OI with profit booking seen at 6000 and above strike prices.
  • Put option 5700-5600, 5400 added 17.56 lacs huge amount of OI with short covering seen at 5800 and above strike prices.
  • Highest accumulation on Call option 6000 at 68.55 lacs & 5900 at 51.71 lacs whereas Put option 5600 at 87.13 lacs & 5700 at 64.30 lacs.
  • Nifty Open Interest is at 1,48,50,400 down by 7,96,100, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 12,76,650, up by 38,025, with decrease in price, most probably short build-up.
  • FII’s sold 7.76 lacs Futures, mostly long liquidation, as their net OI decreased by 19786 contracts and the average price per contract comes to around 5809.06.
  • FII’s future open contract as on date is 349046.
  • PCR Open Interest (Volume) is still strong at 1.385.
  • Support still at 5800, though covered some but OI still above 58.08 lacs and below that at 5700 with OI of 64.30 lacs.
  • Resistance at 5900, with OI of just 51.71 lacs and above that at 6000 with huge OI of 68.55 lacs.
  • Range as per Option Table is 5744 - 5874 and as per VIX is 5753 - 5870 with 5807 as the Pivot.
Option Call for 09-07-2013
Buy Nifty 5800CE above 110 for targets of 123, 138 SL - 104
Buy Nifty 5800PE above 92 for targets of 105, 126 SL - 87

India VIX : 19.34 up by 0.67 points
Call OI : 32377550
Put OI : 44853800
PCR OI : 1.298
SMR : 13.96 (Neutral to Bearish: Bears seem to have missed a huge chance to keep the Bulls out after pinning them to the mat but letting go at the end. Bulls though closed above the psychological level of 5800 but missed 200DMA by a whisker...)