Saturday, September 28, 2013

Option Open Interest for 27-09-2013

Inference
Nifty opened positive but saw the sellers taking control with each small up-move being sold. The index ultimately closed very weak at 5833.20, a huge loss of 49.05 points. On a week on week basis the index lost huge 178.90 points or approx 2.98%. The broader market was just negative, with 596 advances to 712 declines. The range developing for the new series is still around 5700-6100.
  • Call option 5900-6300 added 16.14 lacs huge amount of OI with small short covering seen at 5600 and lower strike prices.
  • Put option 5900-5500 added 10.65 lacs huge amount of OI with small short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,79,36,650 down by 1,54,450, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 15,65,700 up by 1,22,900, with decrease in price, most probably huge short build-up.
  • FII’s sold 4.43 lacs Futures, mostly short build-up, as their net OI increased by 2006 contracts (includes 39941 longs and 48809 shorts) and the average price per contract comes to around 5776.54.
  • FII’s future open contract as on date is 448554.
  • PCR Open Interest (Volume) just increased a bit to 1.258.
  • Support still very much at 5800, with OI of 33.17 lacs, below that at 5700, with highest OI of 38.00 lacs.
  • Initial resistance now at 5900, with OI of 23.62 lacs, above that at 6000 with OI of 31.01 lacs.
  • Day Range as per Option Table is 5763 - 5933 and as per VIX is 5760 - 5907 with 5854 as the Pivot.
Option Call for 30-09-2013
Buy Nifty 6000CE above 119 for targets of 132, 156 SL - 111
Buy Nifty 5800PE above 130 for targets of 142, 155 SL - 120

India VIX : 24.06 up by 0.06 points
Call OI : 24303150
Put OI : 30570700
PCR OI : 1.258
SMR : 19.13 (Bearish: Nifty saw selling pressure on the very first day of the new series to close weak below crucial level of 200SMA; Bears seems to be having upper hand right now...)