Monday, October 7, 2013

Option Open Interest for 07-10-2013

Inference
Nifty opened weak just below 5900 level, and saw a dip towards 5825 within the first hour of trade. The responsive buyers took control from thereon and moved the index up, slowly towards the 5900 and closed above at 5906.15, a miniscule loss of 1.15 points. The broader market though was positive, with 731 advances to 549 declines. The range to watch out till Expiry is 5700-6100 for the time being.
  • Call option 5800-6400 added 17.93 lacs huge amount of OI with small profit booking seen at 6500 and above strike prices.
  • Put option 5900-5500 added 15.54 lacs huge amount of OI with small profit booking seen at 5400 strike price.
  • Nifty Open Interest is at 1,60,37,950 down by huge 14,03,650, with small decrease in price, most probably huge long liquidation.
  • Bank Nifty Open Interest is at 19,23,500 down by 5,375, with small decrease in price, most probably some long liquidation.
  • FII’s sold huge 4.80 lacs Futures, mostly long liquidation, as their net OI decreased by 37500 contracts (includes 68554 longs and 78160 shorts) and the average price per contract comes to around 5802.43.
  • FII’s future open contract as on date is 395859.
  • PCR Open Interest (Volume) just dipped below 1.3 to 1.279.
  • Initial support still at 5900, with OI crossing 30.58 lacs, below that at 5800, with OI of 43.45 lacs.
  • Initial resistance getting stronger at 6000, with OI of 40.92 lacs, above that at 6100 with huge OI of 46.92 lacs.
  • Day Range as per Option Table is 5813 - 5963 and as per VIX is 5823 - 5989 with 5881 as the Pivot.
Option Call for 08-10-2013
Buy Nifty 6000CE above 125 for targets of 140, 156 SL - 116
Buy Nifty 5900PE above 150 for targets of 166, 192 SL - 142

India VIX : 26.83, up by 0.70 points
Call OI : 32843650
Put OI : 41993100
PCR OI : 1.279
SMR : 20.98 (Neutral to Bullish: Another consolidation day, with intra correction to the rise but closing flat, SMR above 20 is the only thing not going for the Bulls else they seem to be in control though overhead resistance at 6100 is growing with each passing day...)