Tuesday, October 1, 2013

Option Open Interest for 01-10-2013

Inference
Nifty opened positive by around 20 points but saw a huge dip towards 5700 level within the first few minutes of trade. The responsive buyers took control from thereon to move the index first above previous day’s close and towards 5800, but fell short by a few points to close at 5780.05, still a huge gain of 44.75 points. The broader market was also strong, with 755 advances to 548 declines. Strong base building is on around 5700 level.
  • Call option 5700-6300 added 18.12 lacs huge amount of OI with small profit booking seen at 6400 and above strike prices.
  • Put option 6000-5300 added 33.65 lacs huge amount of OI with short covering seen at 6100 and above strike prices.
  • Nifty Open Interest is at 1,63,33,750 down by 5,58,600, with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 17,94,500 up by 86,975, with increase in price, most probably huge long build-up.
  • FII’s sold huge 6.12 lacs Futures, mostly long liquidation, as their net OI decreased by 15705 contracts (includes 44920 longs and 57153 shorts) and the average price per contract comes to around 5702.48.
  • FII’s future open contract as on date is 413704.
  • PCR Open Interest (Volume) again moved up above 1.2 to 1.241.
  • Best support at 5700, with highest OI of 42.46 lacs, below that at 5600, with OI of 33.54 lacs.
  • Initial resistance right now at 5900, with OI of 28.69 lacs, above that at 6000 with huge OI of 36.71 lacs.
  • Day Range as per Option Table is 5677 - 5851 and as per VIX is 5702 - 5858 with 5756 as the Pivot.
Option Call for 03-10-2013
Buy Nifty 5900CE above 125 for targets of 134, 145 SL - 119
Buy Nifty 5700PE above 125 for targets of 140, 159 SL - 120

India VIX : 25.77 down by 0.88 points
Call OI : 28720000
Put OI : 35646200
PCR OI : 1.241
SMR : 20.76 (Neutral: Nifty today saw the buyer back after two days of down move with clear intent of taking the fight to the bears but still have to capture 200SMA stationed at 5840...)