Sunday, August 18, 2013

Option Open Interest for 16-08-2013

Inference
Nifty opened weak on the back of bad global cues, and some huge selling saw the Nifty index suffer its biggest percentage drop since July 2009. The index lost 234.45 points or around 4.08% to close at the low points of the day at 5507.85 after making a low at 5496.05. On a week on week basis Nifty lost 57.80 points. The broader market was pathetic, with just 190 advances to 997 declines. Highest addition for the day was at 5600CE, which looks like a super resistance for the week.
  • Call option 5300-5800 added 88.27 lacs huge amount of OI with profit booking seen at 5900 and above strike prices.
  • Put option 5500-5100 added 56.62 lacs huge amount of OI with huge short covering seen at 5600 and above strike prices.
  • Highest accumulation on Call option 5600 at 64.07 lacs & 5700 at 63.08 lacs whereas Put option 5400 at 79.79 lacs & 5500 at 58.56 lacs.
  • Nifty Open Interest is at 1,76,16,800 up by 27,12,300, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 24,28,525 up by 11,475, with huge decrease in price, most probably small short build-up.
  • FII’s sold 17.59 lacs Futures, mostly short build-up, as their net OI increased by 52040 contracts and the average price per contract comes to around 5354.41.
  • FII’s future open contract as on date is 463290.
  • PCR Open Interest (Volume) is stable at 0.970.
  • Support now down to 5500, with OI of 58.56 lacs, below that at 5400 with highest OI of 79.79 lacs.
  • Best resistance now at 5600, with OI of 64.07 lacs and above that at 5700 with huge OI of 63.08 lacs.
  • Day Range as per Option Table is 5475 - 5639 and as per VIX is 5440 - 5576 with 5574 as the Pivot.
Option Call for 19-08-2013
Buy Nifty 5600CE above 85 for targets of 117, 149 SL - 77
Buy Nifty 5500PE above 94 for targets of 124, 154 SL - 69

India VIX : 23.64, up by 4.94 points
Call OI : 44879500
Put OI : 43528350
PCR OI : 0.970
SMR : 24.37 (BEARISH: The four days of laboured up-move by the Bulls was undone in a single day, with a huge down-move of 234.45 points. Bears just came back with ultra power and now have a real chance to break 5400...)