Monday, July 15, 2013

Option Open Interest for 15-07-2013

Inference
Nifty opened weak just below the previous day’s close and went down to touch the lows of the day around 5980. The buyer we looking for the opportunity, and grabbed it with both hands to move the index back above 6000 and towards the highs of the day around 6040. Nifty ultimately closed around the highs at 6030.80, a gain of 21.80 points. The broader market was also positive, with 720 advances to 459 declines. OI table is in full control of the Bulls with 5900 level now looking like a very good support.
  • Call option 6200-6400 added 5.35 lacs OI with huge short covering seen at 6100 and below strike prices.
  • Put option 6100-5800 added 25.07 lacs huge amount of OI with profit booking seen at 5700 and below strike prices.
  • Highest accumulation on Call option 6000 at 59.41 lacs & 6100 at 49.43 lacs whereas Put option 5800 at 82.76 lacs & 5900 at 74.66 lacs.
  • Nifty Open Interest is at 1,79,85,650 up by 3,23,600, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 13,91,800, up by 49,250, with increase in price, most probably huge long build-up.
  • FII’s sold 3.59 lacs Futures, mostly short build-up, as their net OI increased by 23021 contracts and the average price per contract comes to around 6023.95.
  • FII’s future open contract as on date is 469620.
  • PCR Open Interest (Volume) is still moving higher and now at 1.754, the highest of the series.
  • Super support now placed at 5900, with huge OI of 74.66 lacs and below that at 5800 with highest OI of 82.76 lacs.
  • Small resistance only at 6100, with OI of just 49.43 lacs.
  • Range as per Option Table is 5957 - 6082 and as per VIX is 5971 - 6090 with 6017 as the Pivot.
Option Call for 16-07-2013
Buy Nifty 6000CE above 84 for targets of 97, 109 SL - 79
Buy Nifty 6000PE above 62 for targets of 73, 90 SL - 58

India VIX : 18.79, up by 0.10 points
Call OI : 29165900
Put OI : 51163500
PCR OI : 1.754
SMR : 10.71 (Bullish: The PE writers are on the prowl, have taken over control of 5900 level with ease and now 6000 may be toppled tomorrow. No overhead resistance of repute...)