Wednesday, August 28, 2013

Option Open Interest for 28-08-2013

Inference
Nifty opened huge negative around 5230 and hurtled down towards 5100 level within the first hour of trade. Common sense prevailed and the buyer came back to move the index back above the previous day’s close but ended the day flat at 5285.00, a miniscule loss of 2.45 points. The broader market though was very weak, with just 417 advances to 885 declines. With SMR at 46.27, PCR-OI Volume at 0.700, Bears seems to be in perfect position for Expiry.
  • Call option 5100-5200 added 32.06 lacs huge amount of OI with profit booking seen at 5300 and above strike prices.
  • Put option 5200-4800 added 37.91 lacs huge amount of OI with huge short covering seen at 5300 and above strike prices.
  • Highest accumulation on Call option 5400 at 56.80 lacs & 5500 at 56.61 lacs whereas Put option 5200 at 72.72 lacs & 5100 at 55.35 lacs.
  • Nifty Open Interest is at 1,77,38,950 down by 21,85,650, whereas Sep series added 30.52 lacs, with no change in price, most probably 100% rollover with huge short build-up in next series.
  • Bank Nifty Open Interest is at 14,18,775 down by 3,39,375, whereas Sep series added 4.08 lacs, with decrease in price, most probably 100% rollover with huge short build-up in next series.
  • FII’s sold 7.04 lacs Futures, mostly short build-up, as their net OI increased by 35244 contracts and the average price per contract comes to around 5119.69.
  • FII’s future open contract as on date is 734717.
  • PCR Open Interest (Volume) is at the lowest level at 0.700.
  • Best Support at 5200, with highest OI of 72.72 lacs, and below that at 5100 with huge OI of 55.35 lacs.
  • Best Resistance at 5400, with huge OI of 56.80 lacs and above that at 5500 with OI of 56.61 lacs.
  • Expiry Day Range as per Option Table is 5147 - 5357 and as per VIX is 5195 - 5375 with 5241 as the Pivot.
Option Call for 29-08-2013
Buy Nifty 5200CE above 99 for targets of 135, 178 SL - 80
Buy Nifty 5300PE above 90 for targets of 140, 192 SL - 85

India VIX : 32.38, up by 2.96 points
Call OI : 50489750
Put OI : 35335350
PCR OI : 0.700
SMR : 46.27 (Bearish: Bulls made a huge comeback after being down and out within the first hour of trade, but based on option table Expiry could be around 5300 with huge intraday volatility...)