Thursday, August 22, 2013

Option Open Interest for 22-08-2013

Inference
Nifty opened weak, and went down to touch the lows of the day around 5250 within the first few minutes of trade. The responsive buyer came back after many days of hibernation to move the index up by more than 150 points to close near the highs of the day at 5408.45, a huge gain of 105.90 points. The broader market was positive, with 762 advances to 526 declines. Based on Option Table the range developing for expiry is 5200-5600.
  • Call option 5500-5600 added 21.04 lacs huge amount of OI with short covering seen at 5300 and below strike prices.
  • Put option 5400-5100 added 48.05 lacs huge amount of OI with short covering seen at 5500 and above strike prices.
  • Highest accumulation on Call option 5600 at 68.93 lacs & 5500 at 68.44 lacs whereas Put option 5300 at 79.56 lacs & 5200 at 72.91 lacs.
  • Nifty Open Interest is at 2,35,45,950 down by 6,85,100, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 29,10,225 up by 3,45,100, with not much change in price, most probably short build-up.
  • FII’s sold 14.55 lacs Futures, mostly short build-up in Bank Nifty Future, as their net OI increased by 24537 contracts and the average price per contract comes to around 5260.64.
  • FII’s future open contract as on date is 653356.
  • PCR Open Interest (Volume) moved up at 0.869.
  • Best Support now at 5300, with highest OI of 79.56 lacs, below that at 5200 with OI of 72.91 lacs.
  • Resistance at 5500, with OI of 68.44 lacs and above that at 5600 with highest OI of 68.93 lacs.
  • Day Range as per Option Table is 5273 - 5474 and as per VIX is 5326 - 5491 with 5360 as the Pivot.
Option Call for 23-08-2013
Buy Nifty 5400CE above 83 for targets of 106, 129 SL - 65
Buy Nifty 5400PE above 106 for targets of 145, 190 SL - 99

India VIX : 29.06, up by 0.97 points
Call OI : 52351850
Put OI : 45484150
PCR OI : 0.869
SMR : 33.45 (Bearish: Bulls for a change made an appearance and closed the index above the psychological level of 5400, but the Bears who have been in a good position won’t let it slip so easily through their hands. SMR still very high at 33.45 for Bulls comfort...)