Wednesday, September 18, 2013

Option Open Interest for 18-09-2013

Inference
Nifty opened positive but dipped to the lows of 5840 and then stayed within a narrow range of 20-25 points for the better part of the day. A breakout during the dying minutes of trade saw the index move above 5900 to the highs of the day at 5916, but got adjusted to close just below 5900 at 5899.45, still a huge gain of 49.25 points. The broader though was just positive, with 683 advances to 634 declines. Only resistance of note is at 6000 in Option Table.
  • Call option 5900-6400 added 19.36 lacs huge amount of OI with short covering seen at 5800 and below strike price.
  • Put option 5900-5500 added 20.91 lacs huge amount of OI with profit booking seen at 5400 and below strike prices.
  • Nifty Open Interest is at 1,56,61,600 down by 3,05,550, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 20,07,175 up by 21,575, with increase in price, most probably long build-up.
  • FII’s bought huge 2.34 lacs Futures, mostly long build-up, as their net OI increased by 19881 (includes 58917 longs and 54232 shorts) contracts and the average price per contract comes to around 5812.67.
  • FII’s future open contract as on date is 452611.
  • PCR Open Interest (Volume) is at 1.509.
  • Initial support gaining strength at 5800, with OI now above 47.26 lacs, below that at 5700, with huge OI of 50.06 lacs.
  • Best resistance at 6000, with huge OI of 56.47 lacs and above that at 6100 with OI of 39.39 lacs.
  • Day Range as per Option Table is 5803 - 5976 and as per VIX is 5814 - 5985 with 5886 as the Pivot.
Option Call for 19-09-2013
Buy Nifty 5900CE above 127 for targets of 145, 164 SL - 117
Buy Nifty 5800PE above 104 for targets of 117, 137 SL - 99

India VIX : 27.69, down by 1.13 points
Call OI : 39972850
Put OI : 60310750
PCR OI : 1.509
SMR : 18.35 (Bullish: Bulls seems to have got the feel of what’s coming out of FED meeting, and they have taken the lead, need to see if they are correct, else Bears will come back strong...)