Wednesday, August 7, 2013

Option Open Interest for 07-08-2013

Inference
Nifty opened flat and after an initial dip below 5500 level stayed within a narrow range of 40 points for the better part of the day. It moved once toward 5560 level which was sold off and the index closed at 5519.10, a small loss of 23.15 points. The broader market after many days was positive, with 728 advances to 441 declines. Support building up around 5400 level for the time being.
  • Call option 5400-5800, 6000 added 25.71 lacs huge amount OI with profit booking seen at 6100 and above strike prices.
  • Put option 5400-5200 added 32.20 lacs huge amount of OI with short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 6000 at 67.08 lacs & 5800 at 57.02 lacs whereas Put option 5400 at 71.76 lacs & 5500 at 48.08 lacs.
  • Nifty Open Interest is at 1,55,68,400 down by 11,31,000, with decrease in price, most probably huge-huge long liquidation.
  • Bank Nifty Open Interest is at 24,00,075, down by 78,650, with increase in price, most probably huge short covering.
  • FII’s sold 9.33 lacs Futures, mostly long liquidation, as their net OI decreased by 34652 contracts and the average price per contract comes to around 5420.67.
  • FII’s future open contract as on date is 409329.
  • PCR Open Interest (Volume) is at 0.946.
  • Initial support still at 5500, with OI of 48.08 lacs, and below that at 5400 with highest OI of 71.76 lacs.
  • Initial resistance at 5600, with OI of 38.55 lacs and above that at 5800 with huge OI of 57.02 lacs.
  • Day Range as per Option Table is 5453 - 5592 and as per VIX is 5455 - 5583 with 5522 as the Pivot.
Option Call for 08-08-2013
Buy Nifty 5600CE above 92 for targets of 108, 126 SL - 87
Buy Nifty 5500PE above 92 for targets of 109, 128 SL - 86

India VIX : 22.04 down by 0.69 points
Call OI : 41371800
Put OI : 39151600
PCR OI : 0.946
SMR : 23.29 (Bearish: The Bulls have thrown in the towel with no urge seen by them to take on the resurgent Bears. Best support right now at 5400 level as per Option Table...)