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...)