Monday, August 5, 2013

Option Open Interest for 05-08-2013

Inference
Nifty opened flat but the initial hiccup made a dash towards 5720 to be sold of near the lows of the day. The index then stayed in a narrow range clinging on to the previous day’s closing level and closed just above it at 5685.40, a small gain of 7.50 points. The broader market though was weak, with 576 advances to 603 declines. Range as per Option Table now is 5600-5900 for the time being.
  • Call option 5700-6300 added 12.72 lacs huge amount OI with small short covering seen at 5600 and below strike prices.
  • Put option 5400-5300 added 7.73 lacs huge amount of OI with short covering seen at 5700 and above strike prices.
  • Highest accumulation on Call option 6000 at 70.70 lacs & 5900 at 52.38 lacs whereas Put option 5700 at 59.90 lacs & 5600 at 52.85 lacs.
  • Nifty Open Interest is at 1,52,44,350 down by 2,05,150, with small increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 22,58,425, down by 79,825, with increase in price, most probably huge short covering.
  • FII’s sold 6.52 lacs Futures, mostly short build-up, as their net OI increased by 2678 contracts and the average price per contract comes to around 5599.12.
  • FII’s future open contract as on date is 372418.
  • PCR Open Interest (Volume) is at exact 1.00.
  • Support still at 5700, with huge OI of 59.90 lacs, and below that at 5600 with OI above 52.85 lacs.
  • Initial resistance very much at 5800, with OI of 43.22 lacs and above that at 5900 with huge OI of 52.38 lacs.
  • Day Range as per Option Table is 5625 - 5757 and as per VIX is 5624 - 5747 with 5689 as the Pivot.
Option Call for 06-08-2013
Buy Nifty 5800CE above 81 for targets of 90, 104 SL - 77
Buy Nifty 5700PE above 107 for targets of 123, 141 SL - 101

India VIX : 20.80 down by 0.09 points
Call OI : 36020000
Put OI : 36030750
PCR OI : 1.000
SMR : 20.79 (Bearish: Nifty after 8 days of negative close so a small green day, now Bulls need to build on this to move forward or else the Bears are ready to break below 5600 in coming days. SMR is still above 20 so new shorts should wait for higher levels...)