Friday, July 26, 2013

Option Open Interest for 26-07-2013

Inference
Nifty opened positive and went on to touch the highs of the day around 5945, but was sold off from there onwards moving below the psychological level of 5900. A pullback towards the end was thwarted by the bears and the index closed near the lows at 5886.20, a loss of 21.30 points. On a week on week basis the index cracked 143.00 points or about 2.37%. The broader market was very weak, with just 346 advances to 823 declines. Huge resistance is coming up around 6000 level, though it is just start of the series.
  • Call option 5800-6300 added 31.73 lacs huge amount OI with profit booking seen at 6400 and above strike prices.
  • Put option 5900-5500 added 24.79 lacs huge amount of OI with huge short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6000 at 44.19 lacs & 6100 at 35.98 lacs whereas Put option 5800 at 44.74 lacs & 5900 at 40.96 lacs.
  • Nifty Open Interest is at 1,80,17,050 up by 9,850, with decrease in price, most probably small short build-up.
  • Bank Nifty Open Interest is at 21,74,250, up by 3,49,975, with huge decrease in price, most probably huge short build-up.
  • FII’s sold huge 3.63 lacs Futures, mostly probably short build-up, as their net OI increased by 3587 contracts and the average price per contract comes to around 5826.45.
  • FII’s future open contract as on date is 431843.
  • PCR Open Interest (Volume) just dipped a bit at 1.126.
  • Best support developing at 5800, with highest OI of 44.74 lacs and below that at 5700 with OI of 33.81 lacs.
  • Resistance at 6000, with OI above 44.19 lacs and above that at 6100 with OI of 35.98 lacs.
  • Day Range as per Option Table is 5837 - 5958 and as per VIX is 5835 - 5938 with 5900 as the Pivot.
Option Call for 29-07-2013
Buy Nifty 6000CE above 84 for targets of 95, 111 SL - 79
Buy Nifty 5900PE above 105 for targets of 116, 130 SL - 98

India VIX : 16.78 up by 0.06 points
Call OI : 24370050
Put OI : 27446800
PCR OI : 1.126
SMR : 14.90 (Bearish: The first day of the series saw the Bears taking control with huge addition of more than 11.5 lacs at 6000CE level, Bulls need to come back or else it will be Bear dominated series...)