Tuesday, July 23, 2013

Option Open Interest for 23-07-2013

Inference
Nifty opened positive above the crucial resistance zone of 6060 and stayed in a narrow range of 32 points for the entire session of trade. The index after making a high of 6093 and a low of 6061 ultimately closed at 6077.80, a huge gain of 46.00 points. The broader market was just positive, with just 593 advances to 566 declines. OI table support is now at 6000 level.
  • Call option 6200 added 2.73 lacs huge amount OI with short covering seen at 6100 and below strike prices.
  • Put option 6200-6000 added 19.67 lacs huge amount of OI with profit booking seen at 5900 and below strike prices.
  • Highest accumulation on Call option 6200 at 60.98 lacs & 6100 at 55.48 lacs whereas Put option 6000 at 88.64 lacs & 5900 at 88.40 lacs.
  • Nifty Open Interest is at 1,18,68,250 down by 22,42,050, whereas August series added 42.12 lacs, with huge increase in price, most probably 100% rollover with huge long addition in next series.
  • Bank Nifty Open Interest is at 16,63,150, down by 1,60,075, whereas August series added 5.85 lacs, with increase in price, most probably 100% rollover with huge long build-up in next series.
  • FII’s bought huge 16.90 lacs Futures, mostly probably long build-up, as their net OI increased by 69450 contracts and the average price per contract comes to around 6022.07.
  • FII’s future open contract as on date is 626010.
  • PCR Open Interest (Volume) is up at 1.958, the highest of the series and one of the highest in recent times.
  • Super Support now at 6000, with highest OI of 88.64 lacs and below that at 5900 with huge OI of 88.40 lacs.
  • Resistance at 6100, but looking weak and above that at 6200 with OI of 60.98 lacs.
  • Range as per Option Table is 6021 - 6132 and as per VIX is 6025 - 6131 with 6077 as the Pivot.
Option Call for 24-07-2013
Buy Nifty 6000CE above 95 for targets of 109, 125 SL - 88
Buy Nifty 6100PE above 38 for targets of 49, 65 SL - 34

India VIX : 16.72, down by 0.91 points
Call OI : 26198650
Put OI : 51300900
PCR OI : 1.958
SMR : 8.54 (Bullish: A quick gap-up and then consolidation was order of the day, with PE writers making merry. Highest OI in the Option table now at 6000, which will act like a super support till expiry, only glitch SMR at 8.54, so need to be cautious at higher levels...)