Monday, September 2, 2013

Option Open Interest for 02-08-2013

Inference
Nifty though opened flat to positive, but saw the responsive buyers taking control from the morning itself to initially move above the level of 5500 and close strong around the highs of the day at 5550.75, a huge gain of 78.95 points. Nifty for the fourth straight day closed positive erasing around 430 points of the huge down move of last month. The broader market was positive, with 896 advances to 409 declines. Based on Option Table, Bulls most probably have a base in place at 5300 level.
  • Call option 5500-5800 added 18.27 lacs huge amount of OI with small short covering seen at 5400 and below strike price.
  • Put option 5600-5200 added 30.19 lacs huge amount of OI.
  • Nifty Open Interest is at 1,80,31,300 up by 7,16,900, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 22,05,125 up by 13,300, with increase in price, most probably some long build-up.
  • FII’s sold small 0.53 lacs Futures, mostly short build-up, as their net OI increased by 4103 (includes 71916 longs and 72981 shorts) contracts and the average price per contract comes to around 5317.87.
  • FII’s future open contract as on date is 386568.
  • PCR Open Interest (Volume) is at 1.492.
  • Initial support right now at 5500, with OI of 30.43 lacs and below that at 5400, with huge OI of 38.98 lacs.
  • Initial resistance right now at 5600, with OI of 30.29 lacs and above that at 5700 with OI of 32.21 lacs.
  • Day Range as per Option Table is 5438 - 5633 and as per VIX is 5471 - 5631 with 5532 as the Pivot.
Option Call for 03-08-2013
Buy Nifty 5600CE above 116 for targets of 131, 148 SL - 106
Buy Nifty 5400PE above 104 for targets of 117, 141 SL - 98

India VIX : 27.55 down by 0.26 points
Call OI : 29846150
Put OI : 44524150
PCR OI : 1.492
SMR : 18.47 (Bullish: Bulls have started the new month on a positive note, with a close above the psychological level of 5500 after 11 sessions, and now need to carry on the momentum, but VIX at 27.55 is alarming...)