Wednesday, July 10, 2013

Option Open Interest for 10-07-2013

Inference
Nifty opened flat to positive and stayed around the previous day’s close in a small range for the better part of the morning session, but saw huge selling on Europe open to crash towards the lows of the day at 5800. The index closed just above the lows at 5816.70, a huge loss of 42.30 points. The broader market was also weak, with just 491 advances to 676 declines. OI table saw huge unwinding at 5700-5400PE level, but support still good around 5800 level.
  • Call option 5900-6300 added 17.97 lacs huge amount of OI with small short covering seen at 5800 and below strike prices.
  • Put option 5800 added 3.94 lacs huge amount of OI with profit booking seen at 5700 and below strike prices.
  • Highest accumulation on Call option 6000 at 80.49 lacs & 5900 at 56.40 lacs whereas Put option 5600 at 80.81 lacs & 5800 at 72.19 lacs.
  • Nifty Open Interest is at 1,54,67,200 up by 74,450, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 13,41,500, up by 31,525, with decrease in price, most probably short build-up.
  • FII’s sold 2.97 lacs Futures, mostly short build-up, as their net OI increased by 2653 contracts and the average price per contract comes to around 5807.36.
  • FII’s future open contract as on date is 365390.
  • PCR Open Interest (Volume) has gone down to 1.279 due to huge liquidation at 5700-5400PE level.
  • Good Support still very much at 5800, with huge OI of 72.19 lacs and below that at 5700 with OI of 61.82 lacs.
  • Resistance getting better at 5900, with OI of 56.40 lacs and above that at 6000 with huge OI of 80.49 lacs.
  • Range as per Option Table is 5769 - 5888 and as per VIX is 5756 - 5878 with 5833 as the Pivot.
Option Call for 11-07-2013
Buy Nifty 5800CE above 114 for targets of 131, 158 SL - 108
Buy Nifty 5800PE above 86 for targets of 98, 110 SL - 79

India VIX : 19.98 up by 0.66 points
Call OI : 34830050
Put OI : 44563950
PCR OI : 1.279
SMR : 15.62 (Neutral to Bearish: It’s been a topsy-turvy ride for Nifty for the last few days with gap-ups and gap-downs, but closing around the same level. The range of 5760-5900 is playing out, wait for breakout or breakdown...)