Wednesday, June 6, 2012

Option Open Interest for 06-06-2012

Inference
Nifty opened positive on the back of good global cues, and immediately saw huge short covering which moved the index way above 4950 levels. When it looked like the sellers were trying to creep in, the Bulls got active and carried the momentum from the morning to the highs of the day above 5000, but just closed below at 4997.10, still a handsome gain of 133.80 seen after many day. The Bulls did stamp their authority to the proceeding today with huge-huge writing at 4800PE with OI increasing by more than 16 lacs and now has the highest OI in Option Table.
  • Call option 5100-5400 added 15.2 lacs huge amount of OI with huge liquidation seen at 4900 abd below strike prices.
  • Put Option 5000-4800 & 4500 added 39.8 lacs huge amount of OI with profit booking seen at 4700 & 4400 strike prices.
  • Highest accumulation on Call option 5000 at 52.5 lacs & 5200 at 46.2 lacs whereas Put option 4800 at 73.7 lacs & 4500 at 69.5 lacs.
  • Nifty Open Interest is at 1,54,36,600 down by 3,89,250 with huge increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 23,10,900 up by 1,53,700 with increase in price, most probably huge long build-up.
  • FII’s bought just 400 Futures most probably short covering, as their OI also decreased by 2.27 lacs, and their average price per contract comes to around 4869.
  • FII’s future open contract as on date is 3.19 lacs.
  • PCR Open Interest (Volume) has jumped up to 1.529 due to huge addition at 4800PE.
  • Support for the series has jumped from 4500 to 4800 with huge addition of 16.4 lacs today with net OI at 73.7 lacs and below that at 4700-4600 with OI of more than 50 lacs.
  • Resistance is right now at 5000 but is losing OI and above that at 5100-5200 with OI of over 45 lacs.
  • Range as per Option Table is 4915 -5034 and as per VIX is 4932 - 5062 with 4970 as the Pivot.
Option Call for 07-06-2012
Buy Nifty 5000CE above 99 for targets of 116, 133 SL - 86
Buy Nifty 4900PE above 97 for targets of 114, 146 SL - 92

India VIX : 24.90 down by 1.36 points
Call OI : 32814900
Put OI : 50166000
PCR OI : 1.529
SMR : 16.29 (Neutral: So Bulls choose today to stamp their authority and in the process 4800 level was cemented as support...)