Tuesday, September 17, 2013

Option Open Interest for 17-08-2013

Inference
Nifty opened weak and went on to dip around 5800 within the first few minutes, but saw the buyer coming back to avoid break of 5800 level. The index saw some lacklustre trading within a very narrow range of 30 points for the better part of the day and closed flat at 5850.20, a small gain of just 9.65 points. The broader market though was negative, with just 567 advances to 758 declines. Based on Option Table, 6000 level is turning out to be good resistance for the series.
  • Call option 5800-6000 added 6.27 lacs huge amount of OI with profit booking seen at 6200 and above strike price.
  • Put option 5900-5300 added 17.96 lacs huge amount of OI with not much change in other strike prices.
  • Nifty Open Interest is at 1,59,67,150 down by 8,44,800, with small increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 19,85,600 down by 18,050, with decrease in price, most probably some long liquidation.
  • FII’s bought huge 10.06 lacs Futures, mostly short covering, as their net OI decreased by 20908 (includes 82429 longs and 62297 shorts) contracts and the average price per contract comes to around 5747.95.
  • FII’s future open contract as on date is 432730.
  • PCR Open Interest (Volume) is again back above 1.5 and now at 1.526.
  • Initial support at 5800, with OI now above 43.73 lacs, below that at 5700, with huge OI of 45.12 lacs.
  • Initial resistance at 5900, though OI is just 36.89 lacs and above that at 6000 with huge OI of 51.28 lacs.
  • Day Range as per Option Table is 5750 - 5932 and as per VIX is 5765 - 5936 with 5838 as the Pivot.
Option Call for 18-08-2013
Buy Nifty 5900CE above 97 for targets of 106, 120 SL - 89
Buy Nifty 5800PE above 87 for targets of 99, 120 SL - 81

India VIX : 27.93 down by 0.89 points
Call OI : 38399550
Put OI : 58597700
PCR OI : 1.526
SMR : 18.30 (Neutral to Bullish: Bears got a chance to break below 5800 level but were unable to do so and the Bulls closed the index in green, Nifty is near the same level for the last 3 days waiting for some directional moves...)