Thursday, July 18, 2013

Option Open Interest for 18-07-2013

Inference
Nifty opened positive but lazily traded within a narrow range for the entire morning session, but saw huge buying interest in the afternoon session which carried the index above 6000 to the highs of the day around 6050. The index ultimately closed at 6038.05, a huge gain of 64.75 points. The broader market was also strong, with 639 advances to 512 declines. OI table saw the breakout as discussed yesterday and the PE writers are in very strong position.
  • Call option 6100-6300 added 7.19 lacs huge amount OI with short covering seen at 6000 and below strike prices.
  • Put option 6100-5900 added 53.67 lacs huge amount of OI with profit booking seen at 5800 and below strike prices.
  • Highest accumulation on Call option 6000 at 61.19 lacs & 6100 at 57.55 lacs whereas Put option 5800 at 90.76 lacs & 5900 at 86.12 lacs.
  • Nifty Open Interest is at 1,61,90,850 down by 2,71,850, with increase in price, most probably short covering.
  • Bank Nifty Open Interest is at 17,85,300, up by 1,38,125, with increase in price, most probably huge long build-up.
  • FII’s sold just 3500 Futures, mostly short build-up, as their net OI increased by 27232 contracts and the average price per contract comes to around 5995.39.
  • FII’s future open contract as on date is 506573.
  • PCR Open Interest (Volume) is at the highest point of the series at 1.774.
  • Support gathering steam at 6000, with OI now above 62.40 lacs and below that at 5900 with huge OI of 86.12 lacs.
  • Only Resistance now at 6100, with OI just above 57.54 lacs.
  • Range as per Option Table is 5963 - 6087 and as per VIX is 5980 - 6096 with 6021 as the Pivot.
Option Call for 19-07-2013
Buy Nifty 6000CE above 82 for targets of 98, 114 SL - 73
Buy Nifty 6100PE above 91 for targets of 115, 138 SL - 85

India VIX : 18.27 down by 1.09 points
Call OI : 29619600
Put OI : 52537650
PCR OI : 1.774
SMR : 10.30 (Bullish: So as said yesterday, it was 6000 level which was captured by the Bulls, now need to defend it tomorrow for an Expiry around 6100 level, else re-test of 5900 coming...)