Thursday, May 31, 2012

Option Open Interest for 31-05-2012

Inference
Nifty opened down on the back of bad global cues and went on to touch 4884. The responsive buyers came in and moved the index well over 4900 but were unable to close above the dotted line. It was a slow and gruelling expiry with price not moving much till the afternoon session. The index ultimately closed the day at 4924.25 a loss of 26.50. The new series has just 1.43 Crore OI, which is less than normal. The initial range developing is 4700-5100 for the time being.
  • Call option 4900-5500 added 47.1 lacs huge amount of OI.
  • Put Option 5200-4500 added 35 lacs huge amount of OI.
  • Highest accumulation on Call option 5000 at 38.7 lacs & 5300 at 35.1 lacs whereas Put option 4500 at 57.1 lacs & 4800 at 49.6 lacs.
  • Nifty Open Interest is at 1,43,50,700 up by 26,32,250 with decrease in price, all rolled over from previous series, most probably shorts.
  • Bank Nifty Open Interest is at 19,52,700 up by 2,52,575 with decrease in price, all rolled over from previous series, most probably shorts.
  • FII’s sold huge 24.74 lacs of Futures most probably huge long liquidation, as their OI also decreased by 1.8 Crore, and their average price per contract comes to around 4809.
  • PCR Open Interest (Volume) at the start of the series is at healthy 1.489.
  • Support for the series developing around 4800, and below that at 4500 with highest OI of over 57 lacs.
  • Resistance is right now at 5000 and above that at 5300 with OI of over 35 lacs.
  • Range as per Option Table is 4863 -4977 and as per VIX is 4859 - 4989 with 4940 as the Pivot.
Option Call for 01-06-2012
Buy Nifty 5000CE above 84 for targets of 91, 99 SL - 79
Buy Nifty 4800PE above 86 for targets of 93, 103 SL - 82

India VIX : 25.25 down by 0.05 points
Call OI : 25942000
Put OI : 38624000
PCR OI : 1.489
SMR : 16.96 (Neutral: A new series with highest OI at 4500PE and 5000CE, interesting, very interesting...)