Tuesday, July 9, 2013

Option Open Interest for 09-07-2013

Inference
Nifty opened strong on the back of good global cues and stayed with a narrow range of 30 points for the entire session, but closed around the highs of the day at 5859.00, a gain of 47.45 points. The broader market was also positive, with 759 advances to 402 declines. OI table saw huge support building up around 5800 level.
  • Call option 5900-6200 added 8.06 lacs huge amount of OI with small short covering seen at 5800 and below strike prices.
  • Put option 5900-5700 added 17.21 lacs huge amount of OI with profit booking seen at 5600 and below strike prices.
  • Highest accumulation on Call option 6000 at 74.64 lacs & 5900 at 52.28 lacs whereas Put option 5600 at 83.66 lacs & 5800 at 68.25 lacs.
  • Nifty Open Interest is at 1,53,88,750 up by 5,38,350, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 13,09,975, up by 33,325, with increase in price, most probably long build-up.
  • FII’s bought 5.76 lacs Futures, mostly long build-up, as their net OI increased by 13691 contracts and the average price per contract comes to around 5853.44.
  • FII’s future open contract as on date is 362737.
  • PCR Open Interest (Volume) is at 1.379.
  • Good Support at 5800, with huge addition for the day at 10.17 lacs and below that at 5700 with OI of 66.27 lacs.
  • Resistance still at 5900, with OI of just 52.28 lacs and above that at 6000 with huge OI of 74.64 lacs.
  • Range as per Option Table is 5794 - 5914 and as per VIX is 5800 - 5918 with 5853 as the Pivot.
Option Call for 10-07-2013
Buy Nifty 5900CE above 75 for targets of 81, 88 SL - 71
Buy Nifty 5800PE above 71 for targets of 77, 86 SL - 67

India VIX : 19.32, down by 0.02 points
Call OI : 33158400
Put OI : 45715400
PCR OI : 1.379
SMR : 14.01 (Bullish: Bulls are back with a close above long term averages of 100 and 200 DMA, and now need a follow action to scale the elusive level 5900 in the next couple of days. Bears still holding onto the 6000CE level for the time being...)