Monday, May 28, 2012

Option Open Interest for 28-05-2012

Inference
Nifty opened strong on good global cues and carried on its up-move till the end of session to close strong at 4985.65, a huge gain of 65.25 point. Good rollover was seen today with June Series adding 24.2 lacs open interest. The Option Table saw huge unwinding at 5000-4700CE.
  • Call option 4700-5000 covered 30.3 lacs huge amount of OI, with small profit booking seen at 5300 and above strike prices.
  • Put Option 5000-4900 added 17.6 lacs huge amount of OI, with huge profit booking seen at 4800 and below strike prices.
  • Highest accumulation on Call option 5100 at 64.8 lacs & 5000 at 60.3 lacs whereas Put option 4700 at 85.8 lacs & 4800 at 67.6 lacs.
  • Nifty Open Interest is at 1,78,08,750 down by 10,86,750 with increase in price, whereas June series added a whopping 24.2 lacs, most probably 100% rollover and huge long build-up.
  • Bank Nifty Open Interest is at 18,35,450 down by 5,53,825 with increase in price, whereas June series added 4.3 lacs, most probably huge rollover with huge short covering.
  • FII’s bought huge 1.78 lacs of Futures most probably long build-up, as their OI also increased by 19.09 lacs, and their average price per contract comes to around 4765.
  • PCR Open increased to 0.936 due huge short covering seen at 5000-4700CE Level.
  • Support now has shifted to 4900 with huge addition of 9.2 lacs today and below that at 4800-4700 with highest OI of 85.8 lacs.
  • Resistance is still very much there at 5000 though it covered huge OI of 8.2 lacs and above that at 5100 with highest OI of 64.8 lacs.
  • Range as per Option Table is 4910 - 5035 and as per VIX is 4924 - 5047 with 4960 as the Pivot.
Option Call for 29-05-2012
Buy Nifty 4900CE above 88 for targets of 104, 121 SL - 79
Buy Nifty 4900PE above 22 for targets of 31, 48 SL - 18

India VIX : 23.68 down by 1.46 points
Call OI : 42628150
Put OI : 39886850
PCR OI : 0.936
SMR : 25.31 (Neutral : The follow-up action from the Bulls came on Monday instead of Friday, Control shifting toward Bulls...)