Monday, July 29, 2013

Option Open Interest for 29-07-2013

Inference
Nifty opened just negative around 5870 level, but was sold off to the lows around 5845. A small pullback saw the sellers back in action to move the index to the lows of the day to close at 5831.65, a huge loss of 54.55 points. This is the fourth straight day when the index closed in RED losing more than 246 points in the process. The broader market was very weak, with just 344 advances to 835 declines. Resistance has started to develop around 5900 level in the Option Table.
  • Call option 5800-6000, 6200 added 13.18 lacs huge amount OI with profit booking seen at 6100 strike price.
  • Put option 5800-5400 added 8.38 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Highest accumulation on Call option 6000 at 47.36 lacs & 5900 at 37.12 lacs whereas Put option 5800 at 47.29 lacs & 5900 at 40.86 lacs.
  • Nifty Open Interest is at 1,81,41,000 up by 1,23,950, with decrease in price, most probably short build-up.
  • Bank Nifty Open Interest is at 21,11,900, down by 62,350, with decrease in price, most probably long liquidation.
  • FII’s bought 0.54 lacs Futures, mostly probably short covering, as their net OI decreased by 4199 contracts and the average price per contract comes to around 5778.92.
  • FII’s future open contract as on date is 427644.
  • PCR Open Interest (Volume) dropped a bit more and now at 1.114.
  • Best support at 5800, with highest OI of 47.29 lacs and below that at 5700 with OI of 36.59 lacs.
  • Initial resistance right now at 5900, with huge addition for the day at 5.43 lacs and above that at 6000 with highest OI of 47.36 lacs.
  • Day Range as per Option Table is 5787 - 5903 and as per VIX is 5776 - 5887 with 5848 as the Pivot.
Option Call for 30-07-2013
Buy Nifty 5900CE above 112 for targets of 121, 138 SL - 106
Buy Nifty 5800PE above 87 for targets of 94, 105 SL - 81

India VIX : 18.25, up by 1.47 points
Call OI : 25314300
Put OI : 28208700
PCR OI : 1.114
SMR : 16.38 (Bearish: The Option Table is started to look highly bearish with each passing day with only worthy support at 5800 level, a break of which could see huge sell-off...)