Tuesday, September 3, 2013

Option Open Interest for 03-09-2013

Inference
Nifty though opened positive, but the Bears seems to be waiting for this opportunity, and they sold huge to see a trend day, with the index closing near the lows at 5341.45, a huge-huge loss of 209.30 points. Nifty erased 50% of the gains of the last four days in a single session to close very weak. The broader market was pathetic, with just 344 advances to 951 declines. Based on Option Table, support still very much at 5300 level.
  • Call option 5400-5700 added 18.69 lacs huge amount of OI with small short covering seen at 5200 and below strike price.
  • Put option 5150-5100 added 1.26 lacs huge amount of OI with huge short covering seen at 5400 and above strike prices.
  • Nifty Open Interest is at 1,86,60,800 up by 6,29,500, with decrease in price, most probably huge short build-up.
  • Bank Nifty Open Interest is at 22,73,875 up by 68,750, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 34.25 lacs Futures, mostly short build-up, as their net OI increased by 33418 (includes 95065 longs and 163573 shorts) contracts and the average price per contract comes to around 5111.70.
  • FII’s future open contract as on date is 419986.
  • PCR Open Interest (Volume) dropped down to 1.404.
  • Initial and best support at 5300, with OI of 68.36 lacs and below that at 5200, with huge OI of 45.30 lacs.
  • Initial resistance right now at 5400, with huge addition for the day at 4.21 lacs and above that at 5500 with OI of 38.43 lacs.
  • Day Range as per Option Table is 5288 - 5506 and as per VIX is 5251 - 5432 with 5415 as the Pivot.
Option Call for 04-09-2013
Buy Nifty 5400CE above 173 for targets of 199, 248 SL - 166
Buy Nifty 5300PE above 153 for targets of 189, 226 SL - 125

India VIX : 32.49, up by huge 4.94 points
Call OI : 32235250
Put OI : 45246700
PCR OI : 1.404
SMR : 23.15 (Bearish: The index fell with a thud to close weak below 5400, the highest intraday loss of 250 points. Only positive for the Bulls is that 5300PE is still having the highest OI in the Option Table...)