Monday, August 26, 2013

Option Open Interest for 26-08-2013

Inference
Nifty opened positive and within minutes went up touch the highs of the day around 5530, but was sold off from thereon and was unable to sustain above 5500 to close flat near the lows at 5476.50, a miniscule gain of 4.75 points. The broader market was positive, with 758 advances to 563 declines. Based on Option Table, the range till expiry comes to 5300-5600.
  • Call option 5800-5900 added 3.77 lacs huge amount of OI with short covering seen at 5500 and below strike prices.
  • Put option 5500, 5300 added 18.11 lacs huge amount of OI with profit booking seen at 5200 and below strike prices.
  • Highest accumulation on Call option 5600 at 83.57 lacs & 5500 at 68.34 lacs whereas Put option 5300 at 78.69 lacs & 5400 at 66.49 lacs.
  • Nifty Open Interest is at 2,13,69,950 down by 19,12,350, whereas Sep series added 24.97 lacs, with no change in price, most probably 100% rollover with huge short build-up in next series.
  • Bank Nifty Open Interest is at 23,12,950 down by 4,11,925, whereas Sep series added 4.18 lacs, with decrease in price, most probably 100% rollover with small short build-up in next series.
  • FII’s sold 18.02 lacs Futures, mostly short build-up, as their net OI increased by 25969 contracts and the average price per contract comes to around 5311.00.
  • FII’s future open contract as on date is 669078.
  • PCR Open Interest (Volume) stays weak at 0.873.
  • Initial Support still at 5400, though covered huge but OI still above 66.49 lacs, below that at 5300 with highest OI of 78.69 lacs.
  • Resistance very much at 5500, though covered huge but OI still above 68.34 lacs and above that at 5600 with highest OI of 83.57 lacs.
  • Day Range as per Option Table is 5394 - 5575 and as per VIX is 5401 - 5552 with 5487 as the Pivot.
Option Call for 27-08-2013
Buy Nifty 5400CE above 102 for targets of 124, 152 SL - 96
Buy Nifty 5500PE above 66 for targets of 89, 113 SL - 60

India VIX : 26.38, up by 0.63 points
Call OI : 50332000
Put OI : 43940600
PCR OI : 0.873
SMR : 30.22 (Bearish: Bulls were unable to take advantage of a good positive opening and squandered all gains till EOD. Bulls need to come back stronger else Expiry could be around the lower end of the range as SMR still hovering above 30...)