Sunday, September 1, 2013

Option Open Interest for 30-08-2013

Inference
Nifty though opened flat, but saw some good upmove towards 5460 level. A sell-off during the day saw the index around 5355 level which was promptly bought by the responsive buyers and the index closed around the highs of the day at 5471.80, a smart gain of 62.75 points. On a week-on-week basis, Nifty was flat with a gain of just 0.05 points. The broader market was just positive, with 672 advances to 621 declines. Based on Option Table, Bulls are trying hard to place a base around 5300 level.
  • Call option 5400-5500, 5700-5800 added 23.93 lacs huge amount of OI with small profit booking seen at 5600 strike price.
  • Put option 5500-5200 added 39.04 lacs huge amount of OI with small short covering seen at 5600 strike price.
  • Nifty Open Interest is at 1,73,14,400 up by 26,64,000, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 21,91,825 up by 48,775, with increase in price, most probably some long build-up.
  • FII’s sold 2.79 lacs Futures, mostly short build-up, as their net OI increased by 35366 (includes 121829 longs and 127417 shorts) contracts and the average price per contract comes to around 5227.08.
  • FII’s future open contract as on date is 382465.
  • PCR Open Interest (Volume) is up and now at 1.474.
  • Initial support right now at 5400, with OI of 35.93 lacs and below that best support developing at 5300, with highest OI of 64.36 lacs.
  • Initial and best resistance right now at 5500, with OI of 33.24 lacs and above that at 5600 with OI of just 24.72 lacs.
  • Day Range as per Option Table is 5348 - 5552 and as per VIX is 5392 - 5551 with 5442 as the Pivot.
Option Call for 02-09-2013
Buy Nifty 5500CE above 124 for targets of 143, 162 SL - 116
Buy Nifty 5300PE above 113 for targets of 134, 156 SL - 108

India VIX : 27.81, down by 1.60 points
Call OI : 27448350
Put OI : 40452800
PCR OI : 1.474
SMR : 18.87 (Bullish: Bulls are back but need a good week to carry on the momentum else the Bears will be back with more power to push the index below 5100 level...)