Monday, September 23, 2013

Option Open Interest for 23-09-2013

Inference
Nifty opened weak below 5950 and after a small up-move towards 5990 was sold off huge below 5900 level. The index closed weak at 5889.75, a huge loss of 122.35 points. Nifty had a back-to-back 100 points plus loss in the last 2 days. The broader was also negative, with just 479 advances to 849 declines. The Option Table range till expiry comes around 5800-6000.
  • Call option 5800-6200 added 46.94 lacs huge amount of OI with profit booking seen at 6300 and above strike price.
  • Put option 5900-5700 added 25.88 lacs huge amount of OI with short covering seen at 6000 and above strike prices.
  • Nifty Open Interest is at 1,47,11,900 down by 2,12,350, whereas October series added 18.75 lacs, with decrease in price, most probably 100% rollover with huge short build-up.
  • Bank Nifty Open Interest is at 15,91,375 down by 36,900, whereas October series added 1.89 lacs, with huge decrease in price, most probably 100% rollover with huge short build-up.
  • FII’s sold 2.19 lacs Futures, mostly short build-up, as their net OI increased by 77510 contracts (includes 132825 longs and 137209 shorts) and the average price per contract comes to around 5821.52.
  • FII’s future open contract as on date is 601146.
  • PCR Open Interest (Volume) has gone below 1.5 after many days and now at 1.488.
  • Support now at 5800, with OI of 47.82 lacs, below that at 5700, with huge OI of 55.69 lacs.
  • Best resistance is at 6000, with highest OI of 56.36 lacs and above that at 6100 with OI of 44.80 lacs.
  • Day Range as per Option Table is 5805 - 6014 and as per VIX is 5806 - 5973 with 6025 as the Pivot.
Option Call for 24-09-2013
Buy Nifty 5900CE above 90 for targets of 119, 169 SL - 83
Buy Nifty 5900PE above 57 for targets of 77, 98 SL - 52

India VIX : 27.02 up by huge 2.29 points
Call OI : 38939000
Put OI : 57936950
PCR OI : 1.488
SMR : 18.16 (Bearish: Raghuram Rajan effect played on for another day with the index losing 122 points with the Bulls giving up hope of 6000 level under constant sell-off seen throughout the day...)