Wednesday, June 27, 2012

Option Open Interest for 27-06-2012

Inference
Nifty consolidated for another day with positive bias but in a very narrow range of just 31 points. Good rollover was seen today with approx 23 lacs rolled within Nifty range of 5130-5155. The index ultimately closed the day at 5141.90, a gain of 21.10 points. The Option Table saw huge liquidation in most of the CE levels. Most of the Rollover and addition (78.9 lacs OI added) happened in July series in the range of 5096-5195. 
  • Call option 51000-4900 covered 17.3 lacs huge amount of OI, with profit booking seen at 5200 and above strike prices.
  • Put Option 5100 added 3.82 lacs huge amount of OI, with huge liquidation seen at 5200 and above strike price.
  • Highest accumulation on Call option 5200 at 79 lacs & 5300 at 63.9 lacs whereas Put option 4800 at 89.7 lacs & 5000 at 88.3 lacs.
  • Nifty Open Interest is at 1,29,69,800 down by 22,61,350 with increase in price, whereas July series added 22.8 lacs OI, most probably 100% rollover with small long build-up.
  • Bank Nifty Open Interest is at 14,53,500 down by 3,83,475 with increase in price, whereas July series added 3.46 lacs OI, most probably 90% rollover with some long liquidation.
  • FII’s bought huge 12.21 lacs Futures (another biggie), most probably long build-up, their OI decreased by 2.7 lacs, and their average price per contract comes to around 5026.
  • FII’s future open contract as on date is 6.77 lacs.
  • PCR Open Interest (Volume) is at the highest of the series just before expiry at 1.993.
  • Support for the day at 5100, with huge addition of 3.8 lacs, with total OI above 67.4 lacs, below that at 5000 with highest OI of 88.3 lacs.
  • Super Resistance is right now placed at 5200, with highest OI of 79 lacs and above that at 5300 with huge OI of 63.9 lacs.
  • Range as per Option Table is 5085 -5200 and as per VIX is 5087 - 5197 with 5140 as the Pivot.
A sneak peek at July Series : A range of 5000-5300 developing...

Option Call for 28-06-2012
Buy Nifty 5100CE above 50 for targets of 63, 81 SL - 39
Buy Nifty 5200PE above 63 for targets of 77, 91 SL - 58

India VIX : 20.37 up by 0.14 points
Call OI : 30369650
Put OI : 60519950
PCR OI : 1.993
SMR : 12.22 (Bullish : Bulls have fought hard to keep Nifty above 5100 and will try to defend it on expiry also...)