Tuesday, August 27, 2013

Option Open Interest for 27-08-2013

Inference
Nifty opened huge negative and stayed weak breaking one psychological level after another to close below 5300 for the first time this year at 5287.45, a huge-huge loss of 189.05 points. The broader market was also very weak, with just 267 advances to 1053 declines. Option Table looks highly tilted towards the Sellers with expiry around the lows of the Series possible.
  • Call option 5200-5400 added 58.09 lacs huge amount of OI with profit booking seen at 5500 and above strike prices.
  • Put option 5200-5100 added 18.14 lacs huge amount of OI with huge short covering seen at 5400 and above strike prices.
  • Highest accumulation on Call option 5500 at 68.14 lacs & 5400 at 62.47 lacs whereas Put option 5300 at 77.92 lacs & 5200 at 67.55 lacs.
  • Nifty Open Interest is at 1,99,24,600 down by 14,45,350, whereas Sep series added 23.77 lacs, with huge decrease in price, most probably 100% rollover with huge short build-up in next series.
  • Bank Nifty Open Interest is at 17,58,150 down by 5,54,800, whereas Sep series added 5.94 lacs, with huge decrease in price, most probably 100% rollover with small short build-up in next series.
  • FII’s sold 10.19 lacs Futures, mostly short build-up, as their net OI increased by 30395 contracts and the average price per contract comes to around 5124.19.
  • FII’s future open contract as on date is 699473.
  • PCR Open Interest (Volume) has gone down to the lowest point of the series at 0.753.
  • Support at 5300, though price just below it with highest OI of 77.92 lacs, below that at 5200 with huge OI of 67.55 lacs.
  • Resistance now at 5400, with huge addition for the day at 19.76 lacs and above that at 5500 with highest OI of 68.14 lacs.
  • Day Range as per Option Table is 5221 - 5417 and as per VIX is 5206 - 5369 with 5330 as the Pivot.
Option Call for 28-08-2013
Buy Nifty 5300CE above 64 for targets of 95, 145 SL - 59
Buy Nifty 5300PE above 61 for targets of 86, 112 SL - 49

India VIX : 29.42 up by 3.04 points
Call OI : 51324650
Put OI : 38663850
PCR OI : 0.753
SMR : 39.05 (Highly Bearish: The Bears came back with a vengeance to close the index below the psychological level of 5300 and now Expiry below the level seems a big reality with SMR hovering around 39...)