Tuesday, July 16, 2013

Option Open Interest for 16-07-2013

Inference
Nifty opened exactly 100 points down as RBI raised lending rates to commercial banks by 2 per cent to 10.25 per cent making the loans costlier. Bank Nifty was down by about 5%, but Nifty recovered some lost ground to close at 5955.25, still a huge loss 75.55 points. The broader market was also very negative, with just 341 advances to 825 declines. OI table saw huge resistance building up around 6000 level.
  • Call option 5900-6100 added 16.90 lacs huge amount OI with profit booking seen at 6200 and above strike prices.
  • Put option 5800-5700 added 12.36 lacs huge amount of OI with short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 64.95 lacs & 6100 at 51.64 lacs whereas Put option 5800 at 91.92 lacs & 5900 at 69.00 lacs.
  • Nifty Open Interest is at 1,65,72,900 down by 14,12,750, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 13,84,450, down by 7,350, with decrease in price, most probably long liquidation.
  • FII’s sold 4.64 lacs Futures, mostly long liquidation, as their net OI decreased by 5265 contracts and the average price per contract comes to around 5934.26.
  • FII’s future open contract as on date is 464355.
  • PCR Open Interest (Volume) has gone down a bit to 1.640.
  • Support still very much at 5900, with huge OI of 69.00 lacs and below that at 5800 with highest OI of 91.92 lacs.
  • Resistance building up at 6000, with OI now above 64.94 lacs and above that at 6100, with OI of 51.64 lacs.
  • Range as per Option Table is 5882 - 6012 and as per VIX is 5896 - 6014 with 5944 as the Pivot.
Option Call for 17-07-2013
Buy Nifty 6000CE above 48 for targets of 58, 69 SL - 42
Buy Nifty 5900PE above 48 for targets of 60, 80 SL - 44

India VIX : 18.99 up by 0.20 points
Call OI : 30027500
Put OI : 49233800
PCR OI : 1.640
SMR : 11.58 (Neutral to Bullish: A 100 points gap-down has changed the complexion of the OI Table, with the CE writers grabbing the opportunity to add huge at 5900-6000 level, though support still very much intact at 5900...)