Wednesday, July 17, 2013

Option Open Interest for 17-07-2013

Inference
Nifty opened positive and meandered within a narrow range of 30 points for the better part of day to see a dip towards 5927 around Europe exchange open time. The dip was promptly bought by the responsive buyers and the index closed in the green at 5973.30, a small gain of 18.05 points. The broader market though was weak, with just 457 advances to 722 declines. OI table is delicately poised at 5900-6000 range with a breakout or breakdown eminent in the next few days.
  • Call option 5800-6200 added 13.89 lacs huge amount OI with profit booking seen at 6300 and above strike prices.
  • Put option 5900-5700 added 15.07 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6000 at 69.99 lacs & 6100 at 56.37 lacs whereas Put option 5800 at 95.02 lacs & 5700 at 77.13 lacs.
  • Nifty Open Interest is at 1,64,62,700 down by 1,10,200, with not much change in price, most probably long liquidation.
  • Bank Nifty Open Interest is at 16,47,175, up by 2,62,725, with decrease in price, most probably huge short build-up.
  • FII’s bought 3.39 lacs Futures, mostly long build-up, as their net OI increased by 14986 contracts and the average price per contract comes to around 5916.19.
  • FII’s future open contract as on date is 479341.
  • PCR Open Interest (Volume) is still very good at 1.600.
  • Support getting better at 5900, with OI now above 72.75 lacs and below that at 5800 with highest OI of 95.02 lacs.
  • Good Resistance now at 6000, with OI just below 70 lacs and above that at 6100, with OI of 56.37 lacs.
  • Range as per Option Table is 5904 - 6028 and as per VIX is 5913 - 6034 with 5963 as the Pivot.
Option Call for 18-07-2013
Buy Nifty 6000CE above 48 for targets of 59, 72 SL - 43
Buy Nifty 6000PE above 81 for targets of 99, 120 SL - 77

India VIX : 19.36, up by 0.37 points
Call OI : 31164150
Put OI : 49847250
PCR OI : 1.600
SMR : 12.10 (Bullish to Neutral: Nifty saw a perfect consolidation day after the huge down move of yesterday with volatility at its best. Tomorrow could be the decider for which level will give away first, 5900 or 6000...)