Tuesday, June 12, 2012

Option Open Interest for 12-06-2012

Inference
Nifty opened weak, and when it looked like Nifty may go below the psychological level of 5000, responsive buyers took control to move the index higher above the level of 5100. In the meantime we had a dismal IIP number at 0.1 for April, which raised hopes that RBI may cut rates in its up-coming mid-quarter policy review. Europe also opened strong which helped the index to close the day at 5115.90, a huge gain of 61.80 points. Huge build-up was seen at 5000-5200PE levels.
  • Call option 5200-5600 added 10.3 lacs huge amount of OI, with huge liquidation seen at 5000 and lower strike prices.
  • Put Option 5200-4600 added 30.9 lacs huge amount of OI, with not much change in other strike prices.
  • Highest accumulation on Call option 5200 at 58.6 lacs & 5100 at 50.2 lacs whereas Put option 4800 at 80.6 lacs & 4900 at 63.1 lacs.
  • Nifty Open Interest is at 1,57,37,200 up by 6,45,400 with increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 24,68,075 up by 24,875 with increase in price, most probably long build-up.
  • FII’s bought a small 4650 Futures, most probably long build-up, as their OI also increased by 10.37 lacs, and their average price per contract comes to around 5037.
  • FII’s future open contract as on date is 3.71 lacs.
  • PCR Open Interest (Volume) is now at the highest of the series at 1.691.
  • Support for the day at 5000 with huge addition of 6.4 lacs, below that at 4900 & 4800 with highest OI of 80.6 lacs.
  • Resistance is right now at 5200 with OI of 58.6 lacs, and above that at 5300 with OI of around 48 lacs.
  • Range as per Option Table is 5030 -5154 and as per VIX is 5051 - 5181 with 5090 as the Pivot.
Option Call for 13-06-2012
Buy Nifty 5100CE above 108 for targets of 127, 147 SL - 92
Buy Nifty 5100PE above 99 for targets of 121, 152 SL - 92

India VIX : 24.20 down by 0.82 points
Call OI : 33712050
Put OI : 57014500
PCR OI : 1.691
SMR : 14.31 (Bullish: Bullish intraday correction only, Bulls are very much in control with OI Table all Green...)