Monday, September 9, 2013

Option Open Interest for 06-08-2013

Inference
Nifty opened flat to positive and after an initial dip towards 5566 went up with each passing hour to end strong just below the psychological level of 5700 to close at 5680.40, a huge gain of 87.45 points. On a week on week basis the index gained 208.60 points or around 3.81%, the biggest weekly gain in the last 2 months. The broader market was just positive, with 768 advances to 556 declines. Based on Option Table, there is not much resistance right now at higher level CE’s.
  • Call option 5600-6100 added 9.05 lacs huge amount of OI with huge short covering seen at 5500 and below strike price.
  • Put option 5800-5200 added 34.79 lacs huge amount of OI with small short covering seen at 6000 and above strike prices.
  • Nifty Open Interest is at 1,80,88,250 up by 3,08,750, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 21,54,150 up by 25,575, with increase in price, most probably huge long build-up.
  • FII’s bought huge 18.93 lacs Futures, mostly long build-up, as their net OI increased by 11184 (includes 115223 longs and 77357 shorts) contracts and the average price per contract comes to around 5520.15.
  • FII’s future open contract as on date is 364441.
  • PCR Open Interest (Volume) is at the high point of the series at 1.522.
  • Initial support is right now at 5600, with huge addition of 8.03 lacs for the day and below that at 5500, with huge OI of 41.91 lacs.
  • Initial and best resistance right now at 5700, with OI of 43.20 lacs and above that at 5800 with OI of 34.26 lacs.
  • Day Range as per Option Table is 5542 - 5761 and as per VIX is 5595 - 5766 with 5645 as the Pivot.
Option Call for 10-08-2013
Buy Nifty 5700CE above 137 for targets of 157, 178 SL - 119
Buy Nifty 5600PE above 119 for targets of 137, 169 SL - 113

India VIX : 28.65 up by 0.12 points
Call OI : 34034750
Put OI : 51805400
PCR OI : 1.522
SMR : 18.82 (Bullish: Nifty after 2 days of short covering rally saw huge addition in OI with increase in price, higher levels seems open as not much resistance right now at any CE levels...)