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...)