Thursday, June 7, 2012

Option Open Interest for 07-06-2012

Inference
Nifty opened positive and after a small dip towards 5000 took off to move above 5050 and closed just below at 5049.65 with another 1% gain of 52.55 points. Today’s up-move was based huge long addition in Nifty Future. Huge OI were added at 4900-5000PE level with 4900 now looks like a good support.
  • Call option 5100 & 5400-5500 added 15.8 lacs huge amount of OI with liquidation seen at 5000 and below strike prices.
  • Put Option 5100-4900 & 4700-4800 added 27.7 lacs huge amount of OI with not much change in other strike prices.
  • Highest accumulation on Call option 5100 at 49.6 lacs & 5000 at 47.9 lacs whereas Put option 4800 at 73.5 lacs & 4900 at 60.3 lacs.
  • Nifty Open Interest is at 1,59,66,350 up by 5,29,750 with huge increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 24,36,075 up by 1,25,175 with increase in price, most probably huge long build-up.
  • FII’s bought huge 23.2 lacs Futures most probably long build-up, as their OI also increased by 13.35 lacs, and their average price per contract comes to around 4936.
  • FII’s future open contract as on date is 3.46 lacs.
  • PCR Open Interest (Volume) is gaining by the day and now at 1.555 due to huge addition at 4900PE.
  • Support for the series is moving up and right now 4900 look good with OI of above 60 lacs and below that at 4800 with highest OI of 73.5 lacs.
  • Resistance is right now at 5100 with OI of 49.6 lacs, but it looks fragile and not much resistance on the upper side.
  • Range as per Option Table is 4984 -5101 and as per VIX is 4987 - 5112 with 5030 as the Pivot.
Option Call for 08-06-2012
Buy Nifty 5100CE above 67 for targets of 74, 82 SL - 64
Buy Nifty 5000PE above 100 for targets of 112, 132 SL - 96

India VIX : 23.64 down by 1.26 points
Call OI : 33212400
Put OI : 51636400
PCR OI : 1.555
SMR : 15.21 (Bullish to Neutral : Another day when the Bulls made it clear their intention, with huge build-up at 4900PE, Bears will need to wait a bit longer now..)