Tuesday, July 10, 2012

Option Open Interest for 10-07-2012

Inference
Nifty opened flat, and after a grinding first half where the range was mere 20 points, it broke out to move above the recent highs and closed strong at 5345.35, a huge gain of 70.80 points. Positive global cues also helped the Index above the psychological value of 5300, and in the process saw good addition at both 5300 and 5400PE.
  • Call option 5400-5700 added 15 lacs huge amount of OI, with huge liquidation seen at 5300 and below levels.
  • Put Option 5400-5000 added 42 lacs huge amount of OI, with profit booking seen at 4900 and below levels.
  • Highest accumulation on Call option 5400 at 76.8 lacs & 5500 at 68.2 lacs whereas Put option 5000 at 79.2 lacs & 5200 at 73.1 lacs.
  • Nifty Open Interest is at 2,35,46,900 up by 7,36,400 with huge increase in price, most probably long build-up.
  • Bank Nifty Open Interest is at 29,56,825 up by 1,20,100 with huge increase in price, most probably long build-up.
  • FII’s sold, yes sold 2.48 lacs Futures, most probably short build-up, as their OI also increased by 9.73 lacs, and their average price per contract comes to around 5170.
  • FII’s future open contract as on date is 5.58 lacs.
  • PCR Open Interest (Volume) is trying to move above 1.5 and now just below at 1.475.
  • Support has moved higher to 5300 with huge addition of 12.7 lacs for the day and below that at 5200, having OI above 73 lacs.
  • Resistance is at 5400, with huge OI of 76.8 lacs, the highest on CE side and above that at 5500 with OI above 68 lacs.
  • Range as per Option Table is 5279 -5381 and as per VIX is 5295 - 5395 with 5330 as the Pivot.
Option Call for 11-07-2012
Buy Nifty 5300CE above 102 for targets of 116, 130 SL - 90
Buy Nifty 5300PE above 58 for targets of 71, 97 SL - 53

India VIX : 17.83 down by 0.89 points
Call OI : 36166900
Put OI : 53328550
PCR OI : 1.475
SMR : 12.09 (Bullish: PE writers on overdrive but 5400 level could be tough nut to crack, part booking at the highs is reccomended...)