Wednesday, June 13, 2012

Option Open Interest for 13-06-2012

Inference
Today was a perfect consolidation day for Nifty, with the index oscillating around the previous day’s close with not much conviction by either the Bulls or the Bears. The index ultimately closed flat at 5121.45, a miniscule gain of just 5.55 points. It seems that the market participants are waiting for the Inflation data tomorrow to take position. On the Option front huge build-up was seen at 5100PE and 5200CE levels.
  • Call option 5200-5600 added 8.2 lacs huge amount of OI, with huge liquidation seen at 4900 and lower strike prices.
  • Put Option 5100-4600 added 17.3 lacs huge amount of OI, with not much change in other strike prices.
  • Highest accumulation on Call option 5200 at 646.5 lacs & 5100 at 49.6 lacs whereas Put option 4800 at 80.7 lacs & 4900 at 66.8 lacs.
  • Nifty Open Interest is at 1,61,88,500 up by 4,51,300 with small increase in price, most probably huge long build-up.
  • Bank Nifty Open Interest is at 24,45,300 down by 22,775 with decrease in price, most probably long liquidation.
  • FII’s bought huge 21.8 lacs Futures, most probably long build-up and some short covering, as their OI also increased by 13.00 lacs, and their average price per contract comes to around 5018.
  • FII’s future open contract as on date is 3.97 lacs.
  • PCR Open Interest (Volume) is now at the highest of the series at 1.725.
  • Support for the day at 5100 with huge addition of 4.1 lacs, below that at 5000 with OI of above 60 lacs.
  • Resistance is right now at 5200 with highest OI of 64.5 lacs, and above that at 5300 with OI of around 48.8 lacs.
  • Range as per Option Table is 5059 -5180 and as per VIX is 5056 - 5187 with 5110 as the Pivot.
Option Call for 14-06-2012
Buy Nifty 5100CE above 105 for targets of 118, 132 SL - 100
Buy Nifty 5100PE above 87 for targets of 97, 111 SL - 82

India VIX : 24.36 up by 0.16 points
Call OI : 34174950
Put OI : 58947200
PCR OI : 1.725
SMR : 14.12 (Bullish : Bulls are holding on to gains, but the momentum seems wanning, need to be cautious at higher levels...)