Tuesday, June 19, 2012

Option Open Interest for 19-06-2012

Inference
Nifty opened above the dotted line, but immediately made a dash towards the low of the day around 5050. The responsive buyers moved in and what followed was a roller coaster ride with Nifty oscillating between 5060 and 5110, ending at the highs of the day at 5103.85, a cool gain of 39.60 points, much better than the Bearish outlook presented yesterday after RBI no show and Fitch downgrade. The Option Table saw huge addition at 5100PE.
  • Call option 5100-5300 added 16.2 lacs huge amount of OI, with some liquidation seen at 5000 and below strike prices.
  • Put Option 5200-4800 added 21.3 lacs huge amount of OI, with huge liquidation at 4600 strike price.
  • Highest accumulation on Call option 5200 at 71.7 lacs & 5300 at 63.4 lacs whereas Put option 4800 at 87.2 lacs & 5000 at 73.3 lacs.
  • Nifty Open Interest is at 1,63,85,450 down by 1,18,900 with increase in price, most probably huge short covering.
  • Bank Nifty Open Interest is at 25,47,175 down by 4,650 with increase in price, most probably small short covering.
  • FII’s sold huge 4.27 lacs Futures, most probably short build-up, as their OI also increased by 9.2 lacs, and their average price per contract comes to around 4966.
  • FII’s future open contract as on date is 4.7 lacs.
  • PCR Open Interest (Volume) is still around yesterday’s level of 1.679.
  • Support for the day at 5000 with OI of above 73 lacs, below that at 4900 with huge OI of 72.8 lacs.
  • Resistance is right now placed at 5200, with highest OI of 71.7 lacs and above that at 5300 with OI above 63.4 lacs.
  • Range as per Option Table is 5029 -5153 and as per VIX is 5047 - 5161 with 5100 as the Pivot.
Option Call for 20-06-2012
Buy Nifty 5100CE above 66 for targets of 78, 91 SL - 59
Buy Nifty 5100PE above 67 for targets of 83, 108 SL - 61

India VIX : 21.43 down by 1.17 points
Call OI : 36618850
Put OI : 61475450
PCR OI : 1.679
SMR : 12.77 (Bullish : Bulls were back after the mauling they got yesterday with a close above 5100, but need a follow-up action to stay put...)