Tuesday, August 6, 2013

Option Open Interest for 06-08-2013

Inference
Nifty opened weak on the back of bad global cues and saw huge selling pressure from the word go. The index went down with each passing hour and saw no buying activity at all to close below the psychological level of 5600 at 5542.25, a huge loss of 143.15 points. The broader market was very weak, with 243 advances to 965 declines. Range moving lower now at 5400-5900 for the time being.
  • Call option 5400-5900 added 53.71 lacs huge amount OI with profit booking seen at 6000 and above strike prices.
  • Put option 5500-5400, 5200 added 37.84 lacs huge amount of OI with short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 6000 at 63.82 lacs & 5900 at 56.73 lacs whereas Put option 5400 at 56.37 lacs & 5500 at 48.06 lacs.
  • Nifty Open Interest is at 1,66,99,400 up by 14,55,050, with decrease in price, most probably huge-huge short build-up.
  • Bank Nifty Open Interest is at 24,78,725, up by 2,20,300, with decrease in price, most probably huge short build-up.
  • FII’s sold 10.44 lacs Futures, mostly short build-up, as their net OI increased by 71563 contracts and the average price per contract comes to around 5439.47.
  • FII’s future open contract as on date is 443981.
  • PCR Open Interest (Volume) has gone below 1 and now at 0.922.
  • Support now down at 5500, with OI of 48.06 lacs, and below that at 5400 with OI above 56.37 lacs.
  • Initial resistance at 5600, with huge addition for the day at 21.26 lacs and above that at 5700 with huge OI of 39.41 lacs.
  • Day Range as per Option Table is 5497 - 5641 and as per VIX is 5476 - 5608 with 5576 as the Pivot.
Option Call for 07-08-2013
Buy Nifty 5600CE above 123 for targets of 144, 174 SL - 117
Buy Nifty 5600PE above 131 for targets of 153, 174 SL - 118

India VIX : 22.73, up by 1.84 points
Call OI : 39486800
Put OI : 36423000
PCR OI : 0.922
SMR : 24.64 (Bearish: The Bears came back with a vengeance today to close the index below the psychological level of 5600, taking full control of the Option Table, can the Bulls pull off a miracle to save themselves...)