Thursday, August 1, 2013

Option Open Interest for 01-08-2013

Inference
Nifty opened strong on the back of good global cues and moved above 5800 within the first hour of trade but a crisis at NSEL saw the market nosedive more than 130 points from the top to below 5700 level. Buyers took the opportunity to get in and moved the index back above the psychological level of 5700, but closed in read at 5727.85, a small loss of 14.15 points. The broader market was weak, with just 348 advances to 837 declines. Huge addition was seen at 5800CE, which could act as resistance for the day.
  • Call option 5700-6200 added 25.46 lacs huge amount OI with profit booking seen at 6300 and above strike prices.
  • Put option 5800-5600, 5300 added 19.63 lacs huge amount of OI with short covering seen at 5900 and above strike prices.
  • Highest accumulation on Call option 6000 at 63.10 lacs & 6100 at 41.80 lacs whereas Put option 5700 at 62.46 lacs & 5600 at 42.04 lacs.
  • Nifty Open Interest is at 1,64,17,850 down by 2,84,600, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 23,39,425, up by 1,28,050, with increase in price, most probably huge long build-up.
  • FII’s bought 0.35 lacs Futures, mostly short covering, as their net OI decreased by 4134 contracts and the average price per contract comes to around 5646.57.
  • FII’s future open contract as on date is 396435.
  • PCR Open Interest (Volume) has gone down a bit to 1.064.
  • Support at 5700, with huge OI of 62.46 lacs and below that at 5600 with OI of 42.04 lacs.
  • Initial resistance at 5800, with huge addition for the day at 10.01 lacs and now OI above 41.55 lacs and above that at 5900 with huge OI of 41.75 lacs.
  • Day Range as per Option Table is 5671 - 5811 and as per VIX is 5668 - 5787 with 5738 as the Pivot.
Option Call for 02-08-2013
Buy Nifty 5800CE above 101 for targets of 120, 145 SL - 96
Buy Nifty 5700PE above 94 for targets of 109, 130 SL - 88

India VIX : 19.81 up by 1.04 points
Call OI : 31673300
Put OI : 33701150
PCR OI : 1.064
SMR : 18.62 (Bearish: Second day in a row when the index has seen huge pullback from the lows, but Nifty is still not out of the woods though huge support is building up around 5700PE level...)