Monday, September 30, 2013

Option Open Interest for 30-09-2013

Inference
Nifty opened weak around 5800 on the back of bad global cues but saw no respite as the sellers carried on for the entire day to close the index around the lows of the day at 5735.30, a huge loss of 97.90 points. The broader market was also very weak, with just 470 advances to 853 declines. The range as per Option Table is still around 5700-6000 level.
  • Call option 5700-6000, 6200-6400 added 22.86 lacs huge amount of OI with small profit booking seen at 6100 strike prices.
  • Put option 5700-5300 added 14.82 lacs huge amount of OI with huge short covering seen at 5800 and above strike prices.
  • Nifty Open Interest is at 1,68,92,350 down by 10,44,300, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 17,07,525 up by 1,41,825, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 15.64 lacs Futures, mostly long liquidation, as their net OI decreased by 19145 contracts (includes 61682 longs and 92971 shorts) and the average price per contract comes to around 5657.31.
  • FII’s future open contract as on date is 429409.
  • PCR Open Interest (Volume) has moved down to 1.192.
  • Best support still very much at 5700, with highest OI of 38.80 lacs, below that at 5600, with OI of 28.20 lacs.
  • Initial resistance now at 5800, with huge addition for the day at 6.70 lacs, above that at 5900-6000 range.
  • Day Range as per Option Table is 5662 - 5840 and as per VIX is 5655 - 5815 with 5755 as the Pivot.
Option Call for 01-10-2013
Buy Nifty 5900CE above 122 for targets of 136, 159 SL - 114
Buy Nifty 5700PE above 131 for targets of 144, 158 SL - 124

India VIX : 26.65, up by huge 2.59 points
Call OI : 26763800
Put OI : 31893450
PCR OI : 1.192
SMR : 22.36 (Bearish: Nifty saw selling pressure on bad global cues and in anticipation of weak CAD numbers to close very weak below the psychological level of 5750. Bulls have their task cut out for the time being...)

Saturday, September 28, 2013

Option Open Interest for 27-09-2013

Inference
Nifty opened positive but saw the sellers taking control with each small up-move being sold. The index ultimately closed very weak at 5833.20, a huge loss of 49.05 points. On a week on week basis the index lost huge 178.90 points or approx 2.98%. The broader market was just negative, with 596 advances to 712 declines. The range developing for the new series is still around 5700-6100.
  • Call option 5900-6300 added 16.14 lacs huge amount of OI with small short covering seen at 5600 and lower strike prices.
  • Put option 5900-5500 added 10.65 lacs huge amount of OI with small short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,79,36,650 down by 1,54,450, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 15,65,700 up by 1,22,900, with decrease in price, most probably huge short build-up.
  • FII’s sold 4.43 lacs Futures, mostly short build-up, as their net OI increased by 2006 contracts (includes 39941 longs and 48809 shorts) and the average price per contract comes to around 5776.54.
  • FII’s future open contract as on date is 448554.
  • PCR Open Interest (Volume) just increased a bit to 1.258.
  • Support still very much at 5800, with OI of 33.17 lacs, below that at 5700, with highest OI of 38.00 lacs.
  • Initial resistance now at 5900, with OI of 23.62 lacs, above that at 6000 with OI of 31.01 lacs.
  • Day Range as per Option Table is 5763 - 5933 and as per VIX is 5760 - 5907 with 5854 as the Pivot.
Option Call for 30-09-2013
Buy Nifty 6000CE above 119 for targets of 132, 156 SL - 111
Buy Nifty 5800PE above 130 for targets of 142, 155 SL - 120

India VIX : 24.06 up by 0.06 points
Call OI : 24303150
Put OI : 30570700
PCR OI : 1.258
SMR : 19.13 (Bearish: Nifty saw selling pressure on the very first day of the new series to close weak below crucial level of 200SMA; Bears seems to be having upper hand right now...)

Thursday, September 26, 2013

Option Open Interest for 26-09-2013

Inference
Nifty opened flat and stayed in a very narrow range of 30 points for the better part of the day with a small up-move in the latter half being sold. The index ultimately closed just above the previous day at 5882.25, a small gain of 8.40 points. The broader market was positive, with 685 advances to 588 declines. The range developing for the new series comes around 5700-6100.
  • Call option 5400-6500 added 42.99 lacs huge amount of OI.
  • Put option 6500-5400 added 39.80 lacs huge amount of OI.
  • Nifty Open Interest is at 1,80,91,100 up by 44,08,050, with not much change in price, most probably long/short build-up.
  • Bank Nifty Open Interest is at 14,42,800 up by 2,03,800, with small increase in price, most probably huge long/short build-up.
  • FII’s bought huge 25.18 lacs Futures, mostly short covering, as their net OI decreased by 228621 contracts (includes 232304 longs and 181954 shorts) and the average price per contract comes to around 5844.57.
  • FII’s future open contract as on date is 446548.
  • PCR Open Interest (Volume) at start of series is at 1.244.
  • Initial support developing at 5800, with OI of 31.51 lacs, below that at 5700, with highest OI of 35.34 lacs.
  • Initial and best resistance at 6000, with OI of 28.86 lacs, above that at 6100 with OI of just 24.46 lacs.
  • Day Range as per Option Table is 5799 - 5975 and as per VIX is 5808 - 5956 with 5888 as the Pivot.
Option Call for 27-09-2013
Buy Nifty 6000CE above 138 for targets of 151, 165 SL - 131
Buy Nifty 5800PE above 113 for targets of 126, 142 SL - 108

India VIX : 24.00, down by 1.68 points
Call OI : 22477450
Put OI : 27955950
PCR OI : 1.244
SMR : 19.30 (Bearish to Neutral: A very timid expiry compared to the huge volatile days seen in this month, looks like support is developing around 5800 level, but Bulls need to break free or else this support may not hold for long...)

Wednesday, September 25, 2013

Option Open Interest for 25-09-2013

Inference
Nifty opened flat but saw the sellers take control from the morning to move the index to the lows of the day around 5811. The buyer came back to move the index back around the previous day’s close but closed weak at 5873.85, a small loss of 18.60 points. The broader market was negative, with 554 advances to 734 declines. The Option Table range for expiry comes around 5800-5960 with 5900 acting as Pivot.
  • Call option 5800-6000 added 16.96 lacs huge amount of OI with profit booking seen at 6100 and above strike price.
  • Put option 5800 added 5.30 lacs huge amount of OI with short covering seen at 5900 and above strike prices.
  • Nifty Open Interest is at 1,19,55,850 down by 17,14,500, whereas October series added 20.43 lacs, with small decrease in price, most probably 100% rollover with short build-up in new series.
  • Bank Nifty Open Interest is at 12,34,575 down by 1,27,025, whereas October series added 2.79 lacs, with decrease in price, most probably 100% rollover with huge short build-up in new series.
  • FII’s sold huge 2.67 lacs Futures, mostly short build-up, as their net OI increased by 11270 contracts (includes 154588 longs and 159934 shorts) and the average price per contract comes to around 5794.89.
  • FII’s future open contract as on date is 675169.
  • PCR Open Interest (Volume) is at 1.518.
  • Support still exist at 5800, with OI of 56.58 lacs, below that at 5700, with huge OI of 60.91 lacs.
  • Initial resistance at 5900, with OI of 49.16 lacs, above that at 6000 with highest OI of 66.53 lacs.
  • Expiry Day Range as per Option Table is 5774 - 5962 and as per VIX is 5795 - 5953 with 5865 as the Pivot.
Option Call for 26-09-2013
Buy Nifty 5800CE above 98 for targets of 124, 160 SL - 90
Buy Nifty 5900PE above 52 for targets of 74, 109 SL - 44

India VIX : 25.68 down by huge 1.04 points
Call OI : 35713900
Put OI : 54219000
PCR OI : 1.518
SMR : 16.92 (Bearish to Neutral: Pre expiry jitters saw the index down to 5800 level with the CE writers in full flow, but saw some short covering to close a few points down. Based on Option data Max Pain is around 5800-5900 level...)

Tuesday, September 24, 2013

Option Open Interest for 24-09-2013

Inference
Nifty opened weak around 5855 but saw the buyer coming back and moved the index way beyond 5900 to the highs of the day at 5938. The seller got active at the highs and the index went into consolidation mode and closed flat at 5892.45, a smallish gain of 2.70 points. The broader though was negative, with 590 advances to 691 declines. The Option Table range till expiry comes around 5800-6000 with 5900 acting as Pivot.
  • Call option 6000-6100 added 10.31 lacs huge amount of OI with profit booking seen at 6200 and above strike price.
  • Put option 5900-5500 added 14.07 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Nifty Open Interest is at 1,36,70,350 down by 10,41,550, whereas October series added 33.83 lacs, with not much change in price, most probably 100% rollover with huge long build-up.
  • Bank Nifty Open Interest is at 13,61,600 down by 2,29,775, whereas October series added 5.06 lacs, with small decrease in price, most probably 100% rollover with huge short build-up.
  • FII’s bought huge 13.87 lacs Futures, mostly long build-up, as their net OI increased by 62753 contracts (includes 210894 longs and 183145 shorts) and the average price per contract comes to around 5826.87.
  • FII’s future open contract as on date is 663899.
  • PCR Open Interest (Volume) is back again above 1.5 after the dip of yesterday and now at 1.541.
  • Support at 5800, with OI of 51.28 lacs, below that at 5700, with huge OI of 62.37 lacs.
  • Super resistance at 6000, with highest OI of 64.32 lacs, above that at 6100 with OI of 47.16 lacs.
  • Day Range as per Option Table is 5796 - 5995 and as per VIX is 5810 - 5975 with 5895 as the Pivot.
Option Call for 25-09-2013
Buy Nifty 5900CE above 64 for targets of 83, 111 SL - 59
Buy Nifty 5900PE above 48 for targets of 65, 89 SL - 43

India VIX : 26.72, down by 0.30 points
Call OI : 37658650
Put OI : 58046900
PCR OI : 1.541
SMR : 15.06 (Bearish to Neutral: After the ‘Rajan’ effect played out for the last 2 days, it was a perfect pause day with participants looking for direction. Based on Option Table expiry below 6000 is a huge probability...)

Monday, September 23, 2013

Option Open Interest for 23-09-2013

Inference
Nifty opened weak below 5950 and after a small up-move towards 5990 was sold off huge below 5900 level. The index closed weak at 5889.75, a huge loss of 122.35 points. Nifty had a back-to-back 100 points plus loss in the last 2 days. The broader was also negative, with just 479 advances to 849 declines. The Option Table range till expiry comes around 5800-6000.
  • Call option 5800-6200 added 46.94 lacs huge amount of OI with profit booking seen at 6300 and above strike price.
  • Put option 5900-5700 added 25.88 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Nifty Open Interest is at 1,47,11,900 down by 2,12,350, whereas October series added 18.75 lacs, with decrease in price, most probably 100% rollover with huge short build-up.
  • Bank Nifty Open Interest is at 15,91,375 down by 36,900, whereas October series added 1.89 lacs, with huge decrease in price, most probably 100% rollover with huge short build-up.
  • FII’s sold 2.19 lacs Futures, mostly short build-up, as their net OI increased by 77510 contracts (includes 132825 longs and 137209 shorts) and the average price per contract comes to around 5821.52.
  • FII’s future open contract as on date is 601146.
  • PCR Open Interest (Volume) has gone below 1.5 after many days and now at 1.488.
  • Support now at 5800, with OI of 47.82 lacs, below that at 5700, with huge OI of 55.69 lacs.
  • Best resistance is at 6000, with highest OI of 56.36 lacs and above that at 6100 with OI of 44.80 lacs.
  • Day Range as per Option Table is 5805 - 6014 and as per VIX is 5806 - 5973 with 6025 as the Pivot.
Option Call for 24-09-2013
Buy Nifty 5900CE above 90 for targets of 119, 169 SL - 83
Buy Nifty 5900PE above 57 for targets of 77, 98 SL - 52

India VIX : 27.02 up by huge 2.29 points
Call OI : 38939000
Put OI : 57936950
PCR OI : 1.488
SMR : 18.16 (Bearish: Raghuram Rajan effect played on for another day with the index losing 122 points with the Bulls giving up hope of 6000 level under constant sell-off seen throughout the day...)

Option Open Interest for 20-09-2013

Inference
Nifty opened flat to negative and stayed in a very narrow range waiting for the new RBI governor Raghuram Rajan’s monetary policy. As soon as the Monetary policy was announced, which saw the repo rate going up by 0.25% on inflation worries, the market went down by around 200 points from the top to see the lows of the day at 5933. Some value buying at the lows say the index close at 6012.10, still a huge loss of 103.45 points. The broader was very negative, with just 432 advances to 887 declines. The Option Table range now till expiry could be 5800-6100.
  • Call option 6000-6100 added 3.22 lacs huge amount of OI with short covering seen at 5900 and below strike price.
  • None of the Put option added OI with short covering seen at 6000 and above strike prices.
  • Nifty Open Interest is at 1,49,24,250 down by 12,79,950, whereas October series added 5.02 lacs, with decrease in price, most probably some rollover with huge long liquidation.
  • Bank Nifty Open Interest is at 16,28,275 down by 2,23,250, with huge decrease in price, most probably long liquidation.
  • FII’s bought huge 6.54 lacs Futures, mostly long build-up, as their net OI increased by 10123 contracts (includes 150268 longs and 137195 shorts) and the average price per contract comes to around 5956.08.
  • FII’s future open contract as on date is 523636.
  • PCR Open Interest (Volume) is still good at 1.642.
  • Initial support right now at 5900, with OI of just 36.87 lacs, below that at 5800, with huge OI of 44.35 lacs.
  • Initial resistance is now at 6100, with OI of just 35.39 lacs and above that at 6200 with OI of 37.33 lacs.
  • Day Range as per Option Table is 5917 - 6127 and as per VIX is 5934 - 6090 with 6025 as the Pivot.
Option Call for 23-09-2013
Buy Nifty 6000CE above 107 for targets of 137, 162 SL - 99
Buy Nifty 6000PE above 60 for targets of 93, 133 SL - 54

India VIX : 24.73, up by 0.23 points
Call OI : 35612500
Put OI : 58483550
PCR OI : 1.642
SMR : 15.06 (Neutral: The Ben Bernanke euphoria was taken out by RBI governor Raghuram Rajan in a single day and Nifty is back to Neutral zone with Bull and Bear fighting it out for control of 6000 level....)

Thursday, September 19, 2013

Option Open Interest for 19-08-2013

Inference
Nifty opened huge gap-up on Fed move of no tapering for the time being and rallied higher and higher with each passing hour to the highs of the day at 6142. A small profit booking towards the end of the day saw the index close at 6115.55, a huge-huge gain of 216.10 points, a second 200 pointer in this month for the Bulls. The broader was also very positive, with 911 advances to 434 declines. The Option Table right now is in full control of the Bulls.
  • Call option 6200-6500 added 19.71 lacs huge amount of OI with short covering seen at 6100 and below strike price.
  • Put option 6200-5900 added 63.74 lacs huge amount of OI with profit booking seen at 5800 and below strike prices.
  • Nifty Open Interest is at 1,62,04,200 up by 5,42,600, whereas October series added 13.59 lacs, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 18,51,525 down by 1,55,650, with huge increase in price, most probably huge short covering.
  • FII’s bought huge 49.90 lacs Futures, mostly long build-up, as their net OI increased by 60902 contracts (includes 196750 longs and 96948 shorts) and the average price per contract comes to around 6073.36.
  • FII’s future open contract as on date is 513513.
  • PCR Open Interest (Volume) has moved up at 1.691.
  • Initial support has jumped up at 6100, with huge addition for the day at 28.69 lacs, below that at 6000, with huge OI of 41.94 lacs.
  • Best resistance is now at 6200, with huge OI of 41.40 lacs and above that at 6300 with OI of 36.85 lacs.
  • Day Range as per Option Table is 6007 - 6201 and as per VIX is 6037 - 6194 with 6099 as the Pivot.
Option Call for 20-08-2013
Buy Nifty 6100CE above 104 for targets of 130, 157 SL - 97
Buy Nifty 6100PE above 74 for targets of 96, 132 SL - 69

India VIX : 24.50 down by huge 3.19 points
Call OI : 36852950
Put OI : 62304900
PCR OI : 1.691
SMR : 18.30 (Bullish: Bulls had a BENTASTIC day with a close above 6100 in more than 4 months and are in sight of new highs for the year; Bears for the time being can WAIT...)

Wednesday, September 18, 2013

Option Open Interest for 18-09-2013

Inference
Nifty opened positive but dipped to the lows of 5840 and then stayed within a narrow range of 20-25 points for the better part of the day. A breakout during the dying minutes of trade saw the index move above 5900 to the highs of the day at 5916, but got adjusted to close just below 5900 at 5899.45, still a huge gain of 49.25 points. The broader though was just positive, with 683 advances to 634 declines. Only resistance of note is at 6000 in Option Table.
  • Call option 5900-6400 added 19.36 lacs huge amount of OI with short covering seen at 5800 and below strike price.
  • Put option 5900-5500 added 20.91 lacs huge amount of OI with profit booking seen at 5400 and below strike prices.
  • Nifty Open Interest is at 1,56,61,600 down by 3,05,550, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 20,07,175 up by 21,575, with increase in price, most probably long build-up.
  • FII’s bought huge 2.34 lacs Futures, mostly long build-up, as their net OI increased by 19881 (includes 58917 longs and 54232 shorts) contracts and the average price per contract comes to around 5812.67.
  • FII’s future open contract as on date is 452611.
  • PCR Open Interest (Volume) is at 1.509.
  • Initial support gaining strength at 5800, with OI now above 47.26 lacs, below that at 5700, with huge OI of 50.06 lacs.
  • Best resistance at 6000, with huge OI of 56.47 lacs and above that at 6100 with OI of 39.39 lacs.
  • Day Range as per Option Table is 5803 - 5976 and as per VIX is 5814 - 5985 with 5886 as the Pivot.
Option Call for 19-09-2013
Buy Nifty 5900CE above 127 for targets of 145, 164 SL - 117
Buy Nifty 5800PE above 104 for targets of 117, 137 SL - 99

India VIX : 27.69, down by 1.13 points
Call OI : 39972850
Put OI : 60310750
PCR OI : 1.509
SMR : 18.35 (Bullish: Bulls seems to have got the feel of what’s coming out of FED meeting, and they have taken the lead, need to see if they are correct, else Bears will come back strong...)

Tuesday, September 17, 2013

Option Open Interest for 17-08-2013

Inference
Nifty opened weak and went on to dip around 5800 within the first few minutes, but saw the buyer coming back to avoid break of 5800 level. The index saw some lacklustre trading within a very narrow range of 30 points for the better part of the day and closed flat at 5850.20, a small gain of just 9.65 points. The broader market though was negative, with just 567 advances to 758 declines. Based on Option Table, 6000 level is turning out to be good resistance for the series.
  • Call option 5800-6000 added 6.27 lacs huge amount of OI with profit booking seen at 6200 and above strike price.
  • Put option 5900-5300 added 17.96 lacs huge amount of OI with not much change in other strike prices.
  • Nifty Open Interest is at 1,59,67,150 down by 8,44,800, with small increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 19,85,600 down by 18,050, with decrease in price, most probably some long liquidation.
  • FII’s bought huge 10.06 lacs Futures, mostly short covering, as their net OI decreased by 20908 (includes 82429 longs and 62297 shorts) contracts and the average price per contract comes to around 5747.95.
  • FII’s future open contract as on date is 432730.
  • PCR Open Interest (Volume) is again back above 1.5 and now at 1.526.
  • Initial support at 5800, with OI now above 43.73 lacs, below that at 5700, with huge OI of 45.12 lacs.
  • Initial resistance at 5900, though OI is just 36.89 lacs and above that at 6000 with huge OI of 51.28 lacs.
  • Day Range as per Option Table is 5750 - 5932 and as per VIX is 5765 - 5936 with 5838 as the Pivot.
Option Call for 18-08-2013
Buy Nifty 5900CE above 97 for targets of 106, 120 SL - 89
Buy Nifty 5800PE above 87 for targets of 99, 120 SL - 81

India VIX : 27.93 down by 0.89 points
Call OI : 38399550
Put OI : 58597700
PCR OI : 1.526
SMR : 18.30 (Neutral to Bullish: Bears got a chance to break below 5800 level but were unable to do so and the Bulls closed the index in green, Nifty is near the same level for the last 3 days waiting for some directional moves...)

Monday, September 16, 2013

Option Open Interest for 16-09-2013

Inference
Nifty opened huge up around 5930 and after a dash towards 5950 within the first few seconds, saw the responsive sellers take control of the proceedings. The index saw a drop of more than 150 points from the top to decline just below 5800 but saw some buying towards the end to close flat at 5840.55, a loss of just 10.05 points. The broader market was negative, with just 532 advances to 797 declines. Based on Option Table, the range till expiry right now is 5600-6000.
  • Call option 5800-6000 & 6300-6400 added 5.00 lacs huge amount of OI with short covering seen at 5700 and below strike price.
  • Put option 6000, 5800-5700 added 7.74 lacs huge amount of OI with huge profit booking seen at 5600 and lower strike prices.
  • Nifty Open Interest is at 1,68,11,950 down by 5,05,500, with not much change in price, most probably huge long liquidation/short covering.
  • Bank Nifty Open Interest is at 20,03,650 down by 31,275, with increase in price, most probably some short covering.
  • FII’s sold small 33,200 Futures, mostly short build-up, as their net OI increased by 10686 (includes 93535 longs and 94199 shorts) contracts and the average price per contract comes to around 5744.48.
  • FII’s future open contract as on date is 453638.
  • PCR Open Interest (Volume) is down below 1.5 after many days and now at 1.485.
  • Initial support still at 5800, with OI now above 40.35 lacs, below that at 5700, with OI of 38.08 lacs.
  • Initial resistance at 5900, with OI of just 35.33 lacs and above that at 6000 with huge OI of 46.61 lacs.
  • Day Range as per Option Table is 5760 - 5958 and as per VIX is 5752 - 5929 with 5865 as the Pivot.
Option Call for 17-09-2013
Buy Nifty 5900CE above 115 for targets of 139, 180 SL - 107
Buy Nifty 5800PE above 93 for targets of 120, 151 SL - 84

India VIX : 28.82, up by 0.53 points
Call OI : 38289500
Put OI : 56851000
PCR OI : 1.485
SMR : 19.41 (Neutral: Bulls were unable to sustain higher levels and surrendered a huge gap-up to close in the negative. Only hope for the Bulls is that the Index has closed above 200 SMA...)

Saturday, September 14, 2013

Option Open Interest for 13-08-2013

Inference
Nifty opened negative but saw buying within the first few minutes to move towards 5880. Thereafter the index stayed in a narrow range of 60 points throughout the trading session and closed flat at 5850.60, a change of just 0.10 points. On a week on week basis the index gained 170.20 points or around 3.0%. The broader market though was positive, with 808 advances to 529 declines. Based on Option Table, support is gaining ground at 5600 and resistance at 6000.
  • Call option 5900-6400 added 9.77 lacs huge amount of OI with huge short covering seen at 5800 and below strike price.
  • Put option 5900-5300 added 23.35 lacs huge amount of OI with not much change in other strike prices.
  • Nifty Open Interest is at 1,73,17,450 down by 16,15,150, with not much change in price, most probably huge long liquidation/short covering.
  • Bank Nifty Open Interest is at 20,34,925 up by 21,200, with increase in price, most probably some long build-up.
  • FII’s bought small 4400 Futures, mostly short covering, as their net OI decreased by 38976 (includes 77902 longs and 77814 shorts) contracts and the average price per contract comes to around 5722.36.
  • FII’s future open contract as on date is 442952.
  • PCR Open Interest (Volume) went up to 1.522.
  • Initial support very much at 5800, with OI now above 39.18 lacs, below that at 5700, with OI of 37.19 lacs.
  • Initial resistance is still at 5900, with OI of 35.27 lacs and above that at 6000 with OI of 45.99 lacs.
  • Day Range as per Option Table is 5755 - 5950 and as per VIX is 5764 - 5937 with 5853 as the Pivot.
Option Call for 16-08-2013
Buy Nifty 5900CE above 111 for targets of 127, 149 SL - 104
Buy Nifty 5800PE above 97 for targets of 113, 137 SL - 90

India VIX : 28.29 down by 1.42 points
Call OI : 38506150
Put OI : 58625550
PCR OI : 1.522
SMR : 18.58 (Bullish: The corrective continues in Nifty for the second day in a row with not much change of price with Bulls holding above 200 SMA with ease, Bears need to come back with new vigour or else can see 6000 in coming days...)

Thursday, September 12, 2013

Option Open Interest for 12-09-2013

Inference
Nifty opened positive but saw the responsive sellers take charge to move the index down by more than 115 points from the top. A small pullback towards the end saw the index close at 5850.70, a huge loss of 62.45 points. The broader market was just negative, with 639 advances to 693 declines. Based on Option Table, resistance at 6000 strike got better.
  • Call option 6000-6400 added 20.08 lacs huge amount of OI with huge short covering seen at 5800 and below strike price.
  • Put option 5900, 5600-5500 added 8.67 lacs huge amount of OI with profit booking seen at 5700 and 5300 strike prices.
  • Nifty Open Interest is at 1,89,32,600 down by 1,73,150, with huge decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 20,13,725 down by 30,025, with decrease in price, most probably long liquidation.
  • FII’s sold huge 6.17 lacs Futures, mostly short build-up, as their net OI increased by 23355 (includes 65417 longs and 77758 shorts) contracts and the average price per contract comes to around 5719.06.
  • FII’s future open contract as on date is 481928.
  • PCR Open Interest (Volume) is dipping fast and now at 1.508.
  • Initial support still at 5800, with OI now above 36.99 lacs, below that at 5700, with OI of 33.18 lacs.
  • Initial resistance at 5900, with OI of just 33.80 lacs and above that at 6000 with OI of 44.68 lacs.
  • Day Range as per Option Table is 5757 - 5969 and as per VIX is 5760 - 5942 with 5866 as the Pivot.
Option Call for 13-09-2013
Buy Nifty 5900CE above 127 for targets of 154, 179 SL - 118
Buy Nifty 5800PE above 111 for targets of 132, 154 SL - 103

India VIX : 29.71, down by 0.04 points
Call OI : 37925450
Put OI : 57186900
PCR OI : 1.508
SMR : 19.70 (Bullish: Nifty saw correction after 5 continuous days of up move totalling more than 600 points, but Bulls need to come back or else this correction can become a pain for them...)