Monday, June 4, 2012

Option Open Interest for 04-06-2012

Inference
Nifty opened huge negative below 4800 on the back of bad global cues and went on to touch 4770. The responsive buyer stepped in and with the help of some short covering moved the index way above 4800 and in the process closed the day in at 4948.15 a smallish gain of 6.55. The Nifty Option Table saw good addition at 4700PE and 4800CE.
  • Call option 4600-4900 & 5200 added 11.2 lacs huge amount of OI with small profit booking seen at 5300 and above strike prices.
  • Put Option 4800-4600 & 4400 added 14.5 lacs huge amount of OI, with liquidation seen at 4900 and above strike prices.
  • Highest accumulation on Call option 5000 at 48.4 lacs & 5100 at 40.9 lacs whereas Put option 4500 at 65.1 lacs & 4800 at 54.5 lacs.
  • Nifty Open Interest is at 1,58,90,650 up by 5,18,400 with small increase in price, most probably short build-up.
  • Bank Nifty Open Interest is at 21,91,300 up by 94,600 with increase in price, most probably huge long build-up.
  • FII’s sold huge 7.51 lacs of Futures most probably huge short build-up, as their OI also increased by 12.99 lacs, and their average price per contract comes to around 4725.
  • FII’s future open contract as on date is 3.30 lacs.
  • PCR Open Interest (Volume) is still hovering around the level of 1.457.
  • Solid support for the series is developing around 4500 level and initial support at 4800 getting some addition today.
  • Resistance is right now at 5000 with highest OI of 48.4 lacs and above that at 5100 with OI of over 40 lacs.
  • Range as per Option Table is 4774 -4890 and as per VIX is 4783 - 4913 with 4860 as the Pivot.
Option Call for 05-06-2012
Buy Nifty 4900CE above 90 for targets of 101, 113 SL - 81
Buy Nifty 4800PE above 119 for targets of 139, 160 SL - 114

India VIX : 25.60 down by 1.17 points
Call OI : 31527150
Put OI : 45929350
PCR OI : 1.457
SMR : 17.57 (Neutral to Bearish: Bulls came back from the DEAD, but follow-up action with a close above 4900 is required...)