Sunday, July 14, 2013

Option Open Interest for 12-07-2013

Inference
Nifty opened huge gap-up on positive global cues around 6000 but saw a initial dip towards 5950 level, from where the responsive buyers took control to again move the index back above 6000 to close strong at 6009.00, a huge gain of 73.90 points. On a week-on-week basis the index gained 141.10 points or about 2.4%. The broader market though was negative, with 520 advances to 652 declines. OI table in full control of the Bulls with PCR volume now at 1.712.
  • Call option 6100-6300 added 11.08 lacs huge amount of OI with huge short covering seen at 6000 and below strike prices.
  • Put option 6100-5600 added 62.00 lacs huge amount of OI with profit booking seen at 5500 and below strike prices.
  • Highest accumulation on Call option 6000 at 59.41 lacs & 6100 at 52.03 lacs whereas Put option 5600 at 86.22 lacs & 5800 at 82.34 lacs.
  • Nifty Open Interest is at 1,76,62,050 up by 8,44,800, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 13,42,550, up by 66,975, with increase in price, most probably huge long build-up.
  • FII’s bought 1.21 lacs Futures, mostly long build-up, as their net OI increased by 21455 contracts and the average price per contract comes to around 5995.52.
  • FII’s future open contract as on date is 446599.
  • PCR Open Interest (Volume) has jumped to 1.712, the highest of the series.
  • Super support now placed at 5900, with huge addition for the day at 23.64 lacs and OI now above 65.86 lacs below that at 5800 with huge OI of 82.34 lacs.
  • Not much overhead resistance of note, with 6100 looking like the lone one with OI of 52.03 lacs.
  • Range as per Option Table is 5930 - 6060 and as per VIX is 5950 - 6068 with 5993 as the Pivot.
Option Call for 15-07-2013
Buy Nifty 6000CE above 75 for targets of 86, 98 SL - 70
Buy Nifty 6000PE above 82 for targets of 96, 114 SL - 77

India VIX : 18.69 down by 0.50 points
Call OI : 30133250
Put OI : 51601000
PCR OI : 1.712
SMR : 10.91 (Bullish: Bulls are now in total control of proceedings with 5800 level now a very good support, it seems like a Buy the Dips will be beneficial while the Bears take a breather for this series...)