Thursday, October 3, 2013

Option Open Interest for 03-10-2013

Inference
Nifty opened positive above the psychological level of 5800 and gained strength with every passing hour to the end the day near the highest level at 5909.70, a huge gain of 129.65 points. The broader market was also strong, with 860 advances to 450 declines. Strong support is being built around 5800 level.
  • Call option 6100-6500 added 12.50 lacs huge amount of OI with short covering seen at 5900 and below strike prices.
  • Put option 6100-5400 added 28.11 lacs huge amount of OI with not much change at other strike prices.
  • Nifty Open Interest is at 1,73,43,050 up by 10,09,300, with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 18,93,100 up by 98,600, with increase in price, most probably huge long build-up.
  • FII’s bought huge 4.21 lacs Futures, mostly long build-up, as their net OI increased by 7757 contracts (includes 67690 longs and 59267 shorts) and the average price per contract comes to around 5848.79.
  • FII’s future open contract as on date is 421461.
  • PCR Open Interest (Volume) is at the highest point of the series at 1.323.
  • Initial support up at 5900, with huge addition for the day of 5.17 lacs, below that at 5800, with OI of 40.12 lacs.
  • Initial resistance at 6000, with OI of 35.60 lacs, above that at 6100 with huge OI of 38.71 lacs.
  • Day Range as per Option Table is 5798 - 5974 and as per VIX is 5832 - 5988 with 5877 as the Pivot.
Option Call for 04-10-2013
Buy Nifty 6000CE above 135 for targets of 154, 173 SL - 120
Buy Nifty 5900PE above 144 for targets of 165, 189 SL - 138

India VIX : 25.17, down by 0.60 points
Call OI : 29587750
Put OI : 39133700
PCR OI : 1.323
SMR : 22.36 (Bullish: Nifty ended the day on a high, with a close above 200SMA and the psychological level of 5900 with the Bulls in command of the situation. Bears need to come back strong or else 6000 is coming...)