Monday, September 30, 2013

Option Open Interest for 30-09-2013

Inference
Nifty opened weak around 5800 on the back of bad global cues but saw no respite as the sellers carried on for the entire day to close the index around the lows of the day at 5735.30, a huge loss of 97.90 points. The broader market was also very weak, with just 470 advances to 853 declines. The range as per Option Table is still around 5700-6000 level.
  • Call option 5700-6000, 6200-6400 added 22.86 lacs huge amount of OI with small profit booking seen at 6100 strike prices.
  • Put option 5700-5300 added 14.82 lacs huge amount of OI with huge short covering seen at 5800 and above strike prices.
  • Nifty Open Interest is at 1,68,92,350 down by 10,44,300, with decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 17,07,525 up by 1,41,825, with decrease in price, most probably huge short build-up.
  • FII’s sold huge 15.64 lacs Futures, mostly long liquidation, as their net OI decreased by 19145 contracts (includes 61682 longs and 92971 shorts) and the average price per contract comes to around 5657.31.
  • FII’s future open contract as on date is 429409.
  • PCR Open Interest (Volume) has moved down to 1.192.
  • Best support still very much at 5700, with highest OI of 38.80 lacs, below that at 5600, with OI of 28.20 lacs.
  • Initial resistance now at 5800, with huge addition for the day at 6.70 lacs, above that at 5900-6000 range.
  • Day Range as per Option Table is 5662 - 5840 and as per VIX is 5655 - 5815 with 5755 as the Pivot.
Option Call for 01-10-2013
Buy Nifty 5900CE above 122 for targets of 136, 159 SL - 114
Buy Nifty 5700PE above 131 for targets of 144, 158 SL - 124

India VIX : 26.65, up by huge 2.59 points
Call OI : 26763800
Put OI : 31893450
PCR OI : 1.192
SMR : 22.36 (Bearish: Nifty saw selling pressure on bad global cues and in anticipation of weak CAD numbers to close very weak below the psychological level of 5750. Bulls have their task cut out for the time being...)